Does Vite have code splitting?

I'm curious to know if the Vite blockchain or its development framework incorporates the concept of code splitting. Could you elaborate on whether Vite supports this feature, which is often used in web development to optimize load times by splitting a single bundle of code into smaller, more manageable chunks that are loaded on demand? Understanding this would be invaluable in assessing the scalability and performance of Vite-based applications, especially in the context of decentralized finance and other cryptocurrency use cases.