The burn rate of Shiba Inu (CRYPTO: SHIB) has experienced an incredible surge of over 270% within the past 24 hours. Over the course of this period, a whopping 48 million SHIB tokens were burnt and permanently removed from circulation.

What Happened: According to data from IntoTheBlock, the SHIB addresses that are profiting from holding SHIB tokens have risen from 7% to the current level of 9%.

In another development for SHIB, tickets for the film “Taylor Swift: The Eras Tour” can now be purchased using SHIB along with Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Dogecoin (CRYPTO: DOGE).

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Why It Matters: It is noteworthy that “Taylor Swift: The Eras Tour” has already achieved remarkable success by accumulating an astounding $100 million in presales even before its premiere. 

The integration of cryptocurrencies into the film’s ticket payment system is made possible due to the partnership between crypto payment service provider BitPay and the theater chain AMC, established early last year.

This development comes as SHIB’s price has surpassed the crucial support level at $0.0000070. 

Price Action: At the time of writing, SHIB was trading at $0.00000711, up 0.96% in the last 24 hours, according to Benzinga Pro.

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