Shiba Inu Explores Supply Reduction via New Burn Engine on Base Amid Rising Whale Activity

Key Points

1. Shiba Inu deployed a burn engine on the Base blockchain, which has already burned over 600 million SHIB tokens in the last 24 hours.

2. Whale dominance in Shiba Inu has risen to 74%, indicating large holders may influence market dynamics, often preceding bullish momentum.

3. Despite a 2.32% price decline to $0.00001368, Shiba Inu’s trading volume surged by 62.96% to $238.54 million within 24 hours, reflecting heightened investor interest.

4. The deflationary strategy aims to stabilize prices and foster a sustainable ecosystem, aligning with market trends favoring scarcity-driven valuation models.

5. Shiba Inu’s approach contrasts with many meme coins by employing a more mature strategy, including the use of Base and Zora for token burns.