Two major crypto exchanges have joined Shiba Inu’s (SHIB) deflationary effort this week by burning millions of tokens, adding another data point for a community that closely tracks supply reduction alongside price action and holder behavior. As a result, the monthly SHIB burn now stands at 588.2 million coins, still well below July’s 3.24 billion, according to Shibburn tracker data.

According to the burn-tracking sheet, Robinhood transferred 39.04 million SHIB to the official SHIB burn address in 101 transactions. Coinbase also burned 17.28 million SHIB from trading fees in 11 transactions, on-chain records show.

Why Seasonality Statistics Support the Long-Term Case

SHIB burning is closely tied to community activity. For many long-term holders, September is viewed as a month to hold through, partly because Shiba Inu is approaching a historically stronger period often referred to as “Uptober.”

Robinhood, Coinbase Join Shiba Inu’s Top Burners in August The Shiba Inu community burned 588.2 million ethereum:0x95ad61b0a150d79219dcf64e1e6cc01f0b64c4ce throughout August, according to Shibburn data. The monthly burn rate fell 6.14%, despite hundreds of millions of tokens… pic.twitter.com/4xA4I6Ymie — BSCNews (@BSCNews) September 2, 2026

Robinhood, Coinbase Join Shiba Inu’s Top Burners in August The Shiba Inu community burned 588.2 million ethereum:0x95ad61b0a150d79219dcf64e1e6cc01f0b64c4ce throughout August, according to Shibburn data. The monthly burn rate fell 6.14%, despite hundreds of millions of tokens… pic.twitter.com/4xA4I6Ymie

The third quarter has also been stronger than expected for SHIB, which rose 21% in Q3 compared with an average ratio of 2.39%. By contrast, the median seasonality for Shiba Inu in September is about -3%, with only three positive Septembers since the token’s launch.

October, often called “Uptober,” has historically been the more important month. The median growth rate exceeds 8%, and the month is often cited because of SHIB’s 2021 bull run, when the token posted gains of 830%.

The Key Question for Long-Term SHIB Holders

Whether history repeats itself may depend on activity from crypto whales around the $0.00000550 price range.

At that level, the meme coin could rebound to $0.00000650 if August’s uptick is supported by continued demand from both retail and large holders. Weekly candles show whale sentiment has been rising since July 27.

Even so, the Chaikin Money Flow (CMF) remains at -0.09, which suggests whales have not been actively selling but have not fully agreed on Shiba Inu’s implied cycle bottom. The $0.00000650 level is the checkpoint they are watching for confirmation.

Key SHIB Levels and the Broader Outlook

In the near term, Shiba Inu bulls are looking to break above the red-label Bollinger Band at $0.00000525 and push the CMF into positive territory on shorter time frames. Technicians describe this setup as a “bull flag,” as highlighted in a recent post by SHIB Knight.

$SHIB is making Bull Flag. Good chance to delete a zero in the coming days. pic.twitter.com/9iihVQZhVs — $SHIB KNIGHT (@army_shiba) September 1, 2026

$SHIB is making Bull Flag. Good chance to delete a zero in the coming days. pic.twitter.com/9iihVQZhVs

With Coinbase and Robinhood adding to the SHIB Army’s burn activity, token burning remains one of the stronger narratives around the asset, especially because exchange-driven burns are visible on-chain and easy for the community to verify. Exchange reserves have fallen to record lows, and that suggests SHIB holders are moving tokens into self-custody wallets with the intention of holding.

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