Shiba Inu, known as the “Dogecoin Killer,” has seen a remarkable 550% increase in its burn rate, with 12 million SHIB tokens burned in the last 24 hours. This spike follows a post by Shiba Inu’s mysterious founder, Shytoshi Kusama, hinting at a possible Shiba Inu ETF.

According to Shibburn, this burn rate increase is significant as it reduces the total supply of tokens, potentially affecting SHIB's value. The burning of 12.3 million SHIB tokens indicates increased activity within the Shiba Inu ecosystem.

Shytoshi Kusama hinted at a SHIB ETF in a recent X (formerly Twitter) post, congratulating the “Ethereum friends” on the SEC’s approval of a spot Ethereum ETF and suggesting a similar future for SHIB.

Additionally, Coinbase, the largest U.S. exchange, announced it would list perpetual futures for SHIB on Coinbase Advanced, along with Floki Inu and Bonk, starting May 30. This move is expected to improve liquidity and market depth for SHIB.

Shiba Inu’s ecosystem also advanced with the integration of its governance token, BONE, into Precipitate AI, allowing users to pay for services with BONE, potentially increasing demand for the token.

However, the community is also mourning the passing of Kabosu, the Shiba Inu dog who inspired Shiba Inu, Dogecoin, and Floki. Kabosu’s owner announced her death through a heartfelt blog post, noting she passed away peacefully after battling leukemia and liver disease.

Despite these positive developments, SHIB’s price has slightly declined, trading at $0.0000248, down 1.76% in the past 24 hours. Nonetheless, the Shiba Inu community remains optimistic, anticipating further updates from the project's leaders.