Shiba Inu Launches Base Network Burn Engine Removing 600M Tokens Daily

Shiba Inu (SHIB) is experiencing significant developments marked by its recent integration with the Base blockchain, featuring a new burn engine that eliminated over 600 million tokens in 24 hours, creating deflationary pressure and attracting whale accumulation that now controls 74% of the market. Despite a narrow trading range and a slight price decline, SHIB maintains a 24% monthly gain, supported by a dramatic 97% drop in exchange inflows indicating reduced sell pressure, although resistance remains due to a large cluster of holders sitting at a loss between $0.000015 and $0.000019. Whale activity has surged over 3,000% recently, with major holders acquiring trillions of tokens, fueling optimism for a potential rally akin to SHIB's 2023 breakout that saw a 300% increase. However, the token faces pressure from overhead selling and a cautious market environment, as reflected in fading momentum and flat volume despite whale interest. Analysts project that SHIB could outperform Dogecoin (DOGE) in coming years if current trends continue, with price targets ranging up to $0.000856 by 2028–2029, though concerns about SHIB's lack of institutional adoption and anonymous development team pose challenges to sustained growth. Overall, SHIB's evolving utility, strong whale accumulation, and deflationary mechanics suggest a bullish outlook, tempered by technical resistance and the need for broader market validation.