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Shiba Inu Surges 20%, Burn Rate Spikes to 613%, Record Win by BitStarz Player

• Shiba Inu (SHIB) has surged 20% in the last 24 hours, with its burn rate spiking to 613%.
• Possible reasons for the increase include whale activities, increased hype around the Shibarium update, and Shiba Inu’s promise of faster transactions, lower fees, and improved scalability.
• BitStarz player recently landed a $2,459,124 record win, adding to the excitement of the Shiba Inu market.

The Shiba Inu (SHIB) market has been experiencing a massive surge in the last 24 hours, with its price jumping up an impressive 20%. This rally took the market by surprise, as SHIB had been steadily increasing in price since January 2021. The burn rate on the SHIB network has also spiked to 613%, with Shibburn, a platform that tracks burned SHIB tokens, confirming the burning of more than 70 million SHIB tokens since the sudden surge in the market.

The sudden rally has many speculating on the possible reasons behind the price increase. One theory is that whale activities have been on the rise, with long-term retail addresses actively moving funds. This increase in network activity could explain the large amount of SHIB tokens that were burned. Another possible contributor to the SHIB price surge was the recent hype around the Shibarium update. The Shibarium Network announced the launch of their Ethereum layer-2 solution, Shibarium Beta, via Twitter on January 15. Shibarium is designed to power the Shiba Inu ecosystem, offering users faster transactions, lower fees, and improved scalability. Following the announcement, the SHIB token saw a 21% increase in its price.

Adding to the excitement of the Shiba Inu market is the recent BitStarz player who landed a $2,459,124 record win. It is unclear whether this win had any effect on the SHIB surge, but it is certainly a welcome bit of news for the crypto community.

In conclusion, the Shiba Inu market has seen a massive surge in the last 24 hours, with its burn rate spiking to 613%. Possible reasons for the increase include whale activities, increased hype around the Shibarium update, and Shiba Inu’s promise of faster transactions, lower fees, and improved scalability. The big win by a BitStarz player is just a cherry on top, making the Shiba Inu market an even more exciting place to be.