Shiba Inu’s Fiery Burn: 602 Million Tokens Vanish in a Flash — Will It Survive?

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In the vast tapestry of financial endeavors, few tales are as wild and unpredictable as that of the humble Shiba Inu. Once a mere meme, now a fiery beast, it has set its burn mechanism ablaze, torching 602 million tokens in just a day, elevating the burn rate by an astronomical 16,855.93%. The community, perhaps feeling a little mischievous, watched as their tokens disappeared into the ether, fueling hopes and fears alike. 😅

And so, the total tokens burned have surpassed 410.75 trillion, a number so vast it makes one’s head spin—though, truthfully, fewer tokens mean higher value, or so they say on the street corner of crypto wisdom, courtesy of Shibburn. Maybe someday they’ll burn enough to light up the night sky! 🌠

New Horizons and Fiery Plans

The latest chapter unfolds with Shiba Inu making a strategic leap onto the Base blockchain—an upgrade, a new engine for destruction, a finely-tuned fire that promises to reduce circulating supply systematically. A bold move, igniting a new era, or just a fancy way to say “we’re burning more, faster!” 🙄

This expansion isn’t just about tech; it’s about doubling down on a deflationary dream. The “Creator Coin” on Zora offers a charming arrangement: user fees directly fund token burns. In essence, every transaction is like lighting a candle in the wind—except here, the candles are coins, and they’re going up in smoke. 🔥

Technical Tempest: Price Battles and Breakouts

Price-wise, SHIB is trading at a modest $0.00001332—a drop of 5.86%, because what’s a meme coin without a little drama? Technically, it’s caught within a symmetrical triangle, hinting at a potential breakout or breakdown—like a tense standoff at the crypto saloon. 🤠

The immediate resistance saddles at $0.00001407, just above the 20-day SMA, with the upper Bollinger Band promising a possible surge to $0.00001561 if the stars align. Conversely, a slip below $0.00001253 might lead to a retest of lower lows—fun times, indeed. 📉

Shiba Inu Daily Chart with Momentum Indicators | Source: TradingView

Indicators tell their own stories: RSI at 47.08 whispers indecision, while the Bollinger squeeze suggests a brewing storm of volatility. The MACD line languishes below the signal, with red bars flashing their disapproval—a bearish chorus echoing in the halls of technical analysis. 📊

And as if that weren’t enough, the Balance of Power (BoP) at -0.13 screams that the sellers have taken charge, with a retest of $0.00001253 looming on the horizon—like a mischievous cat eyeing the most fragile ornament. 😼

The Whale Watch: Big Fish in the Crypto Pond

Meanwhile, whales—those majestic giants—hold 61.51% of SHIB, according to IntoTheBlock. Such a hefty concentration hints at a long-term commitment, or perhaps a group of very bored billionaires playing with fire. Either way, their dominance adds a layer of intrigue—and a dash of danger—to the saga. 🐋

And with creator fees fueling the burning frenzy, SHIB is shaping into a burn-to-earn playground—a playground where the house burns tokens faster than you can say “HODL.” Maybe this meme coin is the best new game in town—if you’re into thrill-seeking with a side of digital ashes. 🚀🔥

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2025-07-29 12:21