Shiba Inu Burn Rate Jumps 16,717% as SHIB Launches on Base Network

Shiba Inu Coin is once again making headlines with a massive 16,717% increase in its token burn rate. This sudden spike follows a smaller 1,581% rise just days earlier, during which over 100 million SHIB tokens were permanently sent to dead wallets within 24 hours.

Token burning is a popular strategy in the crypto space to reduce circulating supply and drive long-term value. In the case of SHIB, burns are largely community-led, supported by ecosystem apps that automatically redirect a portion of transaction fees to burn addresses.

As of now, over 410 trillion SHIB tokens have been permanently removed from circulation. The current circulating supply stands at approximately 584.6 trillion, while nearly 4.6 trillion SHIB remains staked. This brings the total SHIB supply to around 589.2 trillion tokens.

The recent surge in burn rate coincides with Shiba Inu’s official launch on Base, Coinbase’s layer-2 blockchain. According to a post on X (formerly Twitter), this move introduces a brand-new burn mechanism designed to further cut down the token supply and add fresh DeFi use cases for SHIB.

This Base integration is expected to power ongoing and automated token burns. While the SHIB community has welcomed the update, the token’s price hasn’t reacted as strongly as some expected. SHIB dropped by 4.4% in the past 24 hours, trading at $0.00001273, while its 24-hour trading volume fell by nearly 17% to $212 million.

Still, technical analysts point out that SHIB is forming a symmetrical triangle pattern on the charts, which often precedes a breakout. If this pattern holds, SHIB could potentially surge by as much as 17x toward the $0.00023 level.

The question now is whether SHIB can end the month with strong momentum. Historically, SHIB has performed well in July, closing the month up 13.4% in 2022 and 11.8% in 2023.

So far this July, SHIB is up around 11%, peaking at $0.0000141 on July 28. According to data from Cryptorank, SHIB has already gained 14.4% in Q3 2025, fueling optimism for a bullish close to the month.

The next key resistance is at $0.000041. If buyers step in and demand holds strong, SHIB could be gearing up for a significant move upward just in time to close July with a bang.