Despite a recent decrease in value, the meme cryptocurrency Shiba Inu (CRYPTO:SHIB) has displayed remarkable growth, marking a 177% increase over the past month.

This growth comes amid news that approximately 410 trillion Shiba Inu tokens have been burned, effectively removing about 41% of its total circulation from the market.

Such a significant reduction in available tokens, coupled with the coin's rising popularity, has contributed to its price revitalisation.

However, the digital asset hasn't been immune to market fluctuations, experiencing a 21% dip in value over the last week.

Despite this setback, the overall performance of Shiba Inu remains strong, highlighting its potential resilience and appeal among investors.