Shibburn labels 152.3 million SHIB burns to Coinbase over past 30 days
In brief
- Shibburn attributed 152,307,330 SHIB burned in nine transactions to Coinbase over 30 days.
- Coinbase ranked second, behind one address that burned 297,572,672 SHIB in a single transaction.
- Total SHIB burned over the 30-day period reached 758.92 million, per Shibburn.
- Daily SHIB burns rose 100% to 61.46 million; weekly burns fell 59.25%.
- U.Today said the ranking alone doesn't show Coinbase deliberately ran a burn campaign.
Where Coinbase sits on the leaderboard
Coinbase isn't at the top. That spot belongs to the "0xc774406cc" address, which sent 297,572,672 SHIB to dead wallets in a single transaction, per Shibburn's figures as cited by U.Today. The Coinbase-labelled tokens didn't arrive in one lump sum; they came through nine separate burn transactions.
So did Coinbase set out to burn SHIB?
U.Today itself noted that Coinbase's place among top monthly burners doesn't, by itself, show the exchange deliberately started a token-burning campaign. What the data does show is that the transactions carry a Coinbase label on Shibburn's tracker (nothing more).
Tokens sent to recognized burn addresses (often called dead wallets) are generally considered permanently inaccessible, which effectively removes them from the circulating supply.
Daily burns rebound while the weekly rate slides
Shibburn recorded 61.46 million SHIB sent to dead wallets in the last 24 hours, with the daily burn rate up 100%. U.Today framed the jump against a soft stretch earlier in the week.
"This marks a rebound from that seen earlier in the week when the burn rate flattened after a collapse on October 11."
The longer windows point in different directions. Weekly burns fell 59.25% over the last seven days, with 163.52 million SHIB burned, while the monthly burn rate rose 79.30%, according to the same Shibburn data.
SHIB price
At the time of U.Today's writing, SHIB was down 2.36% over 24 hours at $0.000005015. The drop followed a broader crypto market selloff.
Frequently asked questions
Did Coinbase deliberately burn SHIB tokens?
The data doesn't establish that. Shibburn's tracker labelled 152,307,330 SHIB burned in nine transactions to Coinbase over 30 days, but U.Today noted that Coinbase's place among top monthly burners does not by itself show the exchange deliberately started a token-burning campaign.
What happens to SHIB sent to a dead wallet?
Tokens sent to recognized burn addresses, often called dead wallets, are generally considered permanently inaccessible. That effectively removes them from SHIB's circulating supply.
