Shiba Inu (SHIB) is experiencing a notable uptick in its price today, driven by a significant increase in its burn rate and the anticipation surrounding the launch of the TREAT token. The burn rate for Shiba Inu has skyrocketed by over 2200% in the last 24 hours, with more than 21 million SHIB tokens being burned. This reduction in circulating supply is creating scarcity, which is often a catalyst for price increases. Additionally, the upcoming launch of the TREAT token, which is expected to be a key component of the Shiba Inu ecosystem, is generating excitement among investors. Major exchanges like Kucoin and Gate.io are set to list TREAT, further boosting investor sentiment.
The current price of Shiba Inu is up by 1.12% from its previous close, reflecting the positive market sentiment and anticipation of the TREAT token launch.