Coinbase, the largest cryptocurrency exchange in the United States, has emerged as the single largest burner of Shiba Inu (SHIB) over the past 30 days, according to on-chain data. Figures from Shibburn, a tracker that logs transfers to the token's designated dead wallets, put the exchange's monthly total at 144 million SHIB.

Token burning refers to sending cryptocurrencies to unspendable addresses, commonly called dead wallets. Once tokens arrive at such an address, they cannot be retrieved, permanently reducing a project's circulating supply. Shibburn monitors transactions of this type for the Shiba Inu community and ranks the largest burners over rolling periods.

Shiba Inu is a dog-themed token launched in 2020 on the Ethereum blockchain. It grew into one of the most widely held meme tokens, and its community has long supported burn initiatives, ranging from voluntary wallet transfers to burn mechanisms built into ecosystem infrastructure such as the Shibarium layer-2 network.

Coinbase, listed on the Nasdaq exchange under the ticker COIN, added SHIB to its platform in 2021. The exchange's activity in the latest 30-day window placed it ahead of all other tracked burners in the Shibburn rankings. Notably, the top of the leaderboard went to a publicly listed exchange rather than the community-supported burn channels described above.

Burning permanently removes tokens from circulation, though the practice does not by itself determine market outcomes. Burn totals can also shift as new transactions are recorded within the rolling 30-day window, so the current standings — including Coinbase's position at the top — may change in future readings.

The report was first published by COINOTAG on October 1, 2026: Coinbase Burns 144 Million SHIB in 30 Days to Top Burn Ranking.