Shiba Inu has recorded a 16,719% increase in its burn rate following integration with the Base blockchain network.
The meme coin team destroyed over 602 million SHIB tokens worth approximately $8,300 during the past 24 hours through automated burning mechanisms.
The surge in token destruction stems from SHIBTOKEN’s launch on Base, which the development team describes as more than simple network expansion.
Creator coin activity on the new blockchain generates continuous burn pressure, with each transaction contributing to the token elimination process.
Base Integration Creates Automated Burn Engine
Recent burn transactions show consistent activity across multiple wallet addresses, with burns ranging from 324 SHIB to over 600 million tokens.
The largest single burn of 600,701,531 SHIB occurred 22 hours ago, while smaller transactions maintain steady elimination pressure.
Shiba Inu’s current supply metrics reveal the impact of ongoing burn campaigns. Total burnt tokens from the initial supply have reached 410,752,047,255,288, leaving a circulating supply of 584,598,973,907,572 tokens from the original quadrillion supply.
The burn mechanism operates through creator coin transactions on Base, where each interaction triggers automatic SHIB destruction.
This process creates a direct correlation between Base network activity and token supply reduction.
Price Performance Shows Mixed Signals
SHIB price data shows mixed performance across different timeframes despite the burn rate spike. The token declined 5.2% over 24 hours and 12.0% over seven days, while posting gains of 2.9% and 14.6% over 14 and 30-day periods respectively.
Current trading ranges show SHIB fluctuating between $0.0000132 and $0.0000141 during the past day. The seven-day range extends from $0.0000131 to $0.0000154.
SHIB remains 84.5% below its October 2021 all-time high of $0.00008616, achieved nearly four years ago. The current burn rate increase could help narrow this gap over time through supply reduction mechanics.
The development team hints at potential BONE token integration following SHIB’s Base success. Such expansion could create additional burn mechanisms across multiple Shibarium ecosystem tokens, amplifying the overall supply reduction effect.
