2Shiba Inu (SHIB) is a decentralized cryptocurrency that emerged in August 2020 as a meme token, drawing inspiration from the Shiba Inu dog breed. It has since evolved into a comprehensive ecosystem, including projects like ShibaSwap, a decentralized exchange, and initiatives such as the Shiba Inu Incubator and Shiboshi NFTs.

Recently, #SHIB has experienced notable market activity. The token's burn rate—a process where tokens are permanently removed from circulation—has surged by 8,400%, coinciding with a 15% price increase. This reduction in supply can contribute to price appreciation.

Additionally, ShibaSwap, the decentralized exchange within the Shiba Inu ecosystem, has seen a 244% growth in trading volume, surpassing $10 million. This uptick indicates heightened user engagement and interest in the platform.

Analysts have observed that both Shiba Inu and #Dogecoin have surged over 18% in the past week. However, some predict that these two meme coins may diverge in their trajectories