The burn rate of Shiba Inu (SHIB) tokens spiked by 16,600% due to the implementation of a new burn mechanism. This significant increase in the burn rate is expected to positively impact the price of SHIB in the short term.

The burn mechanism involves removing a certain percentage of SHIB tokens from circulation, thereby reducing the total supply and potentially increasing scarcity. As the supply decreases and demand remains constant or increases, the price of SHIB may experience upward pressure.

However, it is essential to note that cryptocurrency prices are highly volatile and influenced by various factors beyond just token burns, so predicting the exact future price of SHIB remains uncertain.