Shiba Inu News: Why Is SHIB Increasing in Value?

<p>The war for meme coins rages on. The cryptocurrency markets as a whole have seen a respectable recovery during the last week. However, Shiba Inu cryptocurrency news has pushed SHIB's value significantly higher.</p> <p>Bitcoin's value has increased about 20% in the last week alone. Ethereum has been performing nearly as well as bitcoin. And Dogecoin, the memers' favourite cryptocurrency, is up more than 20%. However, SHIB's value has increased by about 60% in the last week. What is the case with the dubbed "Dogecoin killer?" Despite some analysts' assertions that this canine-themed altcoin has lost its allure, it surely hasn't.</p> <p>You see, one of the most serious issues with SHIB is the enormous circulating supply. At the time of the previous check, it totalled more than 549 trillion tokens. Even Dogecoin's supply is negligible in comparison (132.7 billion). And this severely restricts its capacity to evolve into a token capable of competing on a value basis. That is one of the reasons SHIB trades at $0.00003359 per token whereas DOGE trades at $0.16. According to the newest Shiba Inu cryptocurrency news, it appears as though some investors are beginning to understand this. And some are attempting to rectify the situation in the process.</p> <p>Shiba Inu Crypto News That's Boosting Its Value</p> <p>The mobile app Brick Buster completed its first Shiba Inu burn in late 2021. As a result, about 120 million SHIB tokens were destroyed. The games developer transferred over 120 million tokens to a dead wallet using the $5,000 gained from advertising income.</p> <p>As word of the fire spread, the price of SHIB increased ever so little. And since then, the game has increased its efforts to burn SHIB. By January 10, Brick Buster had burned 359 million tokens. And there is speculation that February's burn will be the largest yet... It is believed to number in excess of 500 million tokens.</p> <p>This gradual burn is the game's fundamental premise. The objective was to collect all advertising revenue, convert it