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Despite this, Shiba Inu has seen a visible jump in its burn rate, a metric that depicts the tokens sent to inactive wallets. As earlier, this metric soared by 8,596.57% within the last 24 hours. Following this surge, about 17.7 million Shiba Inu tokens were removed from circulation overnight. Analysts take center on the fact that burn activity creates scarcity for the token. As a result, the price is anticipated to surge if demand remains the same or grows. The anticipation of rebound in the price is also fueled by a recent from Shiba Inu’s executive Lucie. According to the SHIB insider, there are initiatives underway to promote user experience. This include the rebrand of SHEB.