Shiba Inu (CRYPTO:SHIB) has shown resilience in the volatile cryptocurrency market, rebounding by 6.5% over the last 24 hours to approximately $0.00001637.

This recovery follows a period of decline mirroring broader market trends seen in major cryptocurrencies like Bitcoin (CRYPTO:BTC).

One significant factor contributing to SHIB's recent performance is a dramatic 800% increase in its burn rate, resulting in the elimination of approximately 18 million SHIB tokens from circulation.

This strategic reduction aims to enhance long-term price stability and growth despite the nominal immediate financial impact.

Moreover, there has been a notable surge in whale activity, with large transaction volumes involving SHIB rising by 180% according to data from IntoTheBlock.

This uptick suggests heightened investor interest and potential positioning for future market gains.