Shiba Inu ignited its burn mechanism like never before, torching over 600M tokens in a 24-hour window and sending the burn rate soaring by nearly 17,000%.
Shiba Inu’s burn mechanism has gone into overdrive with the SHIB SHIB $0.000014 24h volatility: 2.8% Market cap: $8.40 B Vol. 24h: $622.29 M community torching 602 million tokens in the past 24 hours, fueling a staggering 16,855.93% surge in the burn rate.
This aggressive reduction pushes the total number of SHIB burned to over 410.75 trillion tokens with fewer tokens meaning higher value, as per the data provided by Shibburn.
Strategic Move to Base
SHIB’s latest burn momentum comes alongside a move to the Base blockchain, introducing a new burn engine, in a now-deleted X post, designed to systematically reduce the circulating supply.
By expanding to Base and integrating burns into ecosystem activity, Shiba Inu is doubling down on its deflationary blueprint. One key contributor has been the “Creator Coin” launch on Zora, where fees from user activity directly fund token burns.
SHIB Price Analysis: Signs of Pressure Within a Triangle
At the time of writing, SHIB is priced at $0.00001332, marking a 5.86% daily drop. Technicals suggest the meme coin is moving within a symmetrical triangle, a setup often preceding a breakout.
Meanwhile, the nearest resistance is at $0.00001407 (20-day SMA), with Bollinger Band upper limit at $0.00001561.
The Bollinger Bands are beginning to squeeze and a breakout above $0.00001407 could open the path toward $0.00001561, while failure to hold $0.00001253 may invite downside retests.
Shiba Inu Daily Chart with Momentum Indicators | Source: TradingView
The Relative Strength Index (RSI) currently stands at 47.08, hinting at indecision among traders while the gradient of the line suggests an entry into the bearish zone.
Additionally, the MACD indicator shows that the MACD line (blue) is below the signal line (orange) with sellers in charge. The histogram is also printing substantial red bars.
This increase in bearish activity is further supported by the Balance of Power (BoP) indicator reading -0.13, indicating that the sellers are overwhelming the buyers. A retest of the support at $0.00001253 (lower Bollinger Band) level is very likely.
Whale Dominance on the Rise
According to IntoTheBlock, 61.51% of SHIB is concentrated in large holder wallets, reflecting a dominant whale presence. Historically, such heavy concentration suggests strong conviction or long-term positioning.
It is important to note that with creator fees from trades directly linked to token burning, SHIB is evolving toward a burn-to-earn infrastructure, making it one of the best meme coins to buy.
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