The Shiba Inu (SHIB) community is celebrating following a substantial surge in the token burn rate of the meme coin. The data reveals that the burn rate has soared by 1,207.63% in the last 24 hours, with over 51 million SHIB tokens sent to dead addresses. These token burn events play a crucial role in injecting bullish momentum into the SHIB price and have contributed to an impressive 199.96% jump in the last 30 days. This surge in burn rate is attributed to the necessity of reducing the total supply and ensuring the coin remains deflationary. Such developments have not only boosted SHIB's trading value but have also revitalized investor confidence in meme coins, setting new industry benchmarks.