Shiba Inu has launched a new token burn mechanism on the Base blockchain, eliminating over 600 million SHIB tokens within a single day. This strategic move targets the reduction of SHIB’s circulating supply to increase scarcity and potentially bolster the token’s long-term value.
Concurrently, whale activity surrounding SHIB has intensified, with large holders now controlling 74% of the token supply—a market indicator historically associated with emerging bullish trends. Despite a 2.32% price decline to $0.00001368, trading volume surged 62.96% to $238.54 million, signaling heightened investor engagement.
The deflationary approach aims to stabilize prices and build sustainable tokenomics, aligning with market preferences for scarcity-driven assets. Shiba Inu’s strategy distinguishes it from typical meme coins through mature ecosystem management, utilizing Base alongside Zora network for systematic token burns.