- SHIB burn rate surged 17,000%, eliminating over 600 million tokens in 24 hours.
- Price moves within a triangle, showing potential for breakout or sharp drop soon.
- Whale concentration grows, with 61.51% of SHIB held by large wallets.
Shiba Inu’s burn rate has gone thermonuclear. Over 600 million SHIB tokens vanished from circulation in one day, sparking shockwaves across the meme coin community. The burn rate exploded by a staggering 16,855.93%, according to Shibburn. This burn frenzy means fewer coins chasing the same demand, a potential recipe for price appreciation. The total burned supply now exceeds 410.75 trillion tokens, proving the SHIB army isn’t backing down. And this isn’t just some accidental fire—it’s a deliberate, calculated inferno.
Base Blockchain Fuels the Flame
This monumental spike in burns came just as SHIB launched a burn-focused upgrade through the Base blockchain . Though the original announcement on X has been deleted, the ecosystem’s intent remains clear: build a system that rewards community engagement with automated burns. That’s where Zora’s “Creator Coin” enters the picture. Whenever users trade or engage with the platform, fees are converted into burns. It’s token reduction by design, not by luck. By linking usage with supply control, Shiba Inu aims to make scarcity a feature, not a byproduct.
The team’s strategy speaks volumes: create value by removing excess. This approach adds fuel to SHIB’s long-term bullish case. And while the meme coin world thrives on hype, this calculated supply drop adds substance to the story. Meanwhile, SHIB’s whale activity shows no signs of slowing. Data from IntoTheBlock confirms that 61.51% of tokens sit in large wallets. This suggests conviction, not random speculation. Big players rarely move without strategy. Their dominance could mean future price action favors holding over dumping.
Price Cools Off, But Tension Builds
Despite the massive burn, SHIB’s price slipped nearly 6%, now trading at $0.00001332. The price hovers inside a symmetrical triangle—a common pattern before major breakouts. Resistance looms at $0.00001407, the 20-day SMA. If bulls push through, the upper Bollinger Band at $0.00001561 becomes the next target. However, failure to hold $0.00001253 could trigger a bearish retest.
Technicals offer a mixed bag. The RSI reads 47.08, stuck in limbo with a slight tilt toward bearish territory. The MACD line also trails beneath the signal line, flashing red warning bars. Sellers currently have the upper hand. The Balance of Power sits at -0.13, adding weight to bearish momentum. Still, these indicators can flip fast—especially when narrative strength collides with market timing.
SHIB’s evolution from meme coin to a deflation-driven asset is well underway. With token burns linked directly to platform activity, the coin introduces a new model—burn-to-earn. Every trade, interaction, and click now serves a purpose: to make SHIB rarer and potentially more valuable. If the burn continues at this pace, SHIB might not just survive. It could thrive.
