Shiba Inu has seen its burn rate skyrocket by 500% in the past 24 hours, permanently removing over 15 million SHIB from circulation. Blockchain data revealed that a crypto whale transferred 1.24 trillion SHIB from Kraken into an unknown self-custody wallet on Feb. 5.

Earlier this week, Shiba Inu partnered with the UAE's Ministry of Energy and Infrastructure (MoEI) to use its blockchain applications in various public sector services. Such partnerships bolster SHIB's appeal, which sits at a $9 billion market capitalization as of Thursday.

The UAE Ministry of Energy and Infrastructure (MoEI) has partnered with Shiba Inu to implement Web3 solutions to support public service efficiency, green infrastructure enhancements, and citizen-focused governance models.

The Ministry of Energy and Infrastructure (MoEI) has partnered with Shiba Inu to advance next-generation, Web3 solutions in energy, infrastructure, and beyond—further solidifying its reputation as a global leader in digital transformation.