Shocking 17,000% Spike: SHIB Burns 600M Tokens in One Day to Boost Scarcity

Andrew Chen
Shiba Inu (SHIB)

Getting your Trinity Audio player ready...

Key Takeaways:

  • SHIB burn rate surged 16,855%, destroying over 600 million tokens in one day.
  • New Base blockchain integration automates burns, linking platform use to token reduction.
  • Despite the burn, SHIB’s price dipped 6%, but whale holdings remain strong, suggesting long-term conviction.

Shiba Inu (SHIB) has ignited the crypto community after eliminating over 600 million tokens from circulation in just one day. According to Shibburn, the token’s burn rate skyrocketed by an eye-watering 16,855.93%, signaling a massive move to reduce supply and potentially lift long-term value.

This aggressive burn campaign pushed SHIB’s total destroyed supply past 410.75 trillion tokens, reinforcing the project’s transition from meme status to a strategically deflationary asset.

Base Blockchain Triggers Burn-to-Earn Mechanism

The recent surge in token burns is linked to a newly launched SHIB upgrade on the Base blockchain, designed to automate and incentivize burns via platform activity. Although the original announcement post was later removed, the ecosystem’s direction is clear: users who engage or transact contribute to reducing SHIB’s supply through integrated fee burns.

Key to this initiative is Zora’s Creator Coin, which turns user activity into token reduction. It’s a burn-on-use model that actively rewards engagement with increased scarcity—a model that moves SHIB beyond hype and toward utility-based value.

Also Read: Shiba Inu Price Reversal Could Trigger $52M Short Squeeze as Resistance Nears

Whales Show Conviction, But Price Retreats

Despite the record-breaking burn, SHIB’s price dipped 6%, currently trading around $0.00001332. Technical indicators paint a cautious picture: RSI sits at 47.08, just below neutral, and MACD trends bearish. However, large wallet holders continue to dominate, with 61.51% of SHIB in whale hands, according to IntoTheBlock—hinting at long-term confidence in SHIB’s future.

Deflation Meets Utility: SHIB’s Next Chapter

SHIB’s evolution is clear. With smart contracts directly tied to supply control, the coin is shifting toward a burn-to-earn economy. Every interaction now plays a role in tightening supply. If this trajectory continues, Shiba Inu could become one of the first meme coins to successfully pivot toward sustainable value creation.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses

Related Posts