Coinbase-Labeled Address Sends 152.31 Million SHIB to Burn Address
Key Takeaways
- •A Shibburn-tracked address labeled "Coinbase" sent 152,307,330 SHIB tokens to the burn address during the 30 days before October 17.
- •The burned amount equaled approximately 20.1% of all SHIB burn activity the tracker logged in that 30-day window.
- •Burning permanently removes tokens from circulating supply because the receiving address cannot be accessed or spent from.
- •Shibburn's 30-day burn totals are rolling figures that shift as newly confirmed burn transactions are recorded on-chain.
- •The "Coinbase" attribution stems from Shibburn's own ledger labeling rather than a designation confirmed by Coinbase.
An address that Shibburn — the tracking service that logs Shiba Inu (SHIB) burns — labels "Coinbase" sent 152,307,330 SHIB tokens to the burn address over the last 30 days, according to ledger data checked on Saturday, October 17.
The transfer accounts for approximately 20.1% of all SHIB burn activity the tracker recorded during that 30-day window.
Token burns work by sending tokens to an address that cannot be accessed or spent from, permanently removing them from circulating supply. Shibburn, a community-run tracking service, aggregates these on-chain burn transactions and publishes rolling burn statistics for the Shiba Inu ecosystem, where burn activity has long been tracked as a measure of supply reduction. Because those statistics roll forward with each newly confirmed burn transaction, the 30-day totals cited by the tracker shift over time rather than remaining fixed.
Shiba Inu (SHIB) is an Ethereum-based meme token that launched in 2020 with a total supply of one quadrillion tokens, and because burns are recorded on-chain, third-party trackers such as Shibburn are able to tally how many tokens have been sent to the designated burn address over any given period.
The "Coinbase" designation attached to the address in question is a label applied by Shibburn's ledger, meaning the attribution reflects the tracker's own classification of on-chain data rather than a designation issued by the exchange itself.
This content was first published on COINOTAG.
