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Shiba Inu<\/strong> (CRYPTO: SHIB) soared nearly 21% for the week leading up to press time.<\/p>\n What\u2019s Moving? <\/strong>The self-labeled Dogecoin<\/strong> (CRYPTO: DOGE) killer traded 21.01% higher over a seven-day trailing period.<\/p>\n Against larger cryptocurrencies \u2014 Bitcoin<\/strong><\/a> (CRYPTO: BTC) and Ethereum<\/strong> (CRYPTO: ETH) \u2014 SHIB traded 0.97% and 1.45% lower respectively.<\/p>\n Over a 24 hour window, SHIB was up 4% at $0.0000076.<\/p>\n See Also: <\/em>How To Buy Shiba Inu (SHIB)<\/em><\/a><\/p>\n Why Is It Moving? <\/strong>Recently, the decentralized meme token announced that its developers would be initiating a coin burn. A coin burn is a process through which tokens are removed from circulation thus decreasing the available supply.<\/p>\n NEW PAIRS ADDED + BURN!!!!<\/p>\n The Shiba Community asked for a BURN\u00a0 and #ShibaSwap<\/a> DEVs have listened, and are delivering!<\/p>\n As one part of the new listings plans, they have implemented a burn procedure to reduce $SHIB<\/a> and $LEASH<\/a> supply. pic.twitter.com\/lfooX0S00D<\/a><\/p>\n \u2014 Shib (@Shibtoken) August 7, 2021<\/a><\/p>\n<\/blockquote>\n Shiba Inu got listed<\/a> on popular retail broker eToro’s<\/strong> platform late last month.<\/p>\n Notably, in May, Ethereum co-founder Vitalik Buterin<\/strong> burned 410 trillion SHIB<\/a> and donated trillions more for COVID-19 relief after coming into posession<\/a> of 505 trillion SHIB involuntarily.<\/p>\n In the same month, SHIB had touched an all-time high of $0.0000388, but as of press time trades 80.51% below those levels.<\/p>\n At press time, SHIB was among the most mentioned cryptocurrencies on Twitter Inc\u2019s <\/strong>(NASDAQ:TWTR<\/a>) social media platform.<\/p>\n SHIB Is trading higher amid a broader resurgence in cryptocurrencies<\/a>, as well as meme tokens, with DOGE up 26.15% for the week.\u00a0<\/p>\n Over 24 hours the veteran Shiba Inu-themed cryptocurrency rose 4.69% to $0.25.<\/p>\n Read Next: <\/em>EXCLUSIVE: Game Where You Can Earn Dogecoin By Catching ‘Dogemons’ Coming Soon On iOS, Android Devices<\/em><\/a><\/p>\n<\/p><\/div>\n\n