Coinbase-Labeled Address Sends 152.31 Million SHIB to Burn Address

152.31 Million SHIB Reach the Burn Address

An address that Shibburn, the tracking service that logs Shiba Inu (SHIB) burns, labels “Coinbase” sent 152,307,330 Shiba Inu (SHIB) tokens to the burn address over the last 30 days, a flow equal to about 20.1% of every burn the tracker recorded in that window. The ledger, checked on Saturday, October 17, places the labeled address second among all burn sources for the period. It is a rolling 30-day aggregate, so the count moves as transactions enter and leave the window. The address ahead of it moved 297,572,672 SHIB in a single transaction, a different shape of activity altogether: one sweep against nine separate sends. Shibburn builds its table by summing every transfer that lands at the burn address, so any wallet feeding it, labeled or not, appears alongside the size of its contribution.

A burn address is a wallet no one controls. Tokens transferred to it become permanently unreachable, and memecoin projects such as Shiba Inu use the mechanism to pull supply out of circulation. The effect is strictly one-way. Unlike a cold wallet, whose owner can still move the holdings out at any time, a burn address accepts deposits and returns nothing, so the 152.31 million tokens now sit beyond the reach of any market, exchange or owner.

The nine-transaction structure changes how the headline number should be read. This was not a single large sweep but the sum of smaller transfers spread across weeks, which points to a recurring process attached to the address rather than one deliberate action. Whether the exchange itself initiated any of the sends is not established. Shibburn's “Coinbase” tag is the tracker's own classification of the address, not a statement from the company, and no announcement from the platform explains the flows. The gap between the two leaders is wide, 297.57 million against 152.31 million, though the second-place address spread its total across nine transactions while the leader needed one.

585.49 Trillion Tokens Still Circulating

Shibburn's 30-day burn total stood at 758,923,872 Shiba Inu (SHIB) at the same October 17 checkpoint. The 20.1% share attached to the Coinbase-labeled address is not a separately reported statistic: it results from dividing the address's 152,307,330 output by that 758.92 million aggregate, so the ratio moves whenever either number is revised.

Set against circulating supply, the flows shrink to almost nothing. Shibburn puts SHIB's circulating supply at 585,486,341,868,884 tokens, about 585.49 trillion, and the labeled address's entire 30-day output works out to roughly 0.000026% of that stock. In plain terms, for every 3.8 million tokens circulating, this address sent one to the burn address. Even the period's full burn total, 758.92 million tokens, stays a fraction of a percent of what is tradable. Burn totals of this size are followed mostly through the supply-reduction narrative that Shiba Inu's community has kept alive since the token's all-time high, rather than through direct market arithmetic.

The same address has appeared in the rankings before with different numbers. An earlier reading put its 30-day burn total at 143,956,168 Shiba Inu (SHIB), at which point it led the table outright. The newest count raises that figure to 152.31 million and drops it to second place behind the single-transaction address, a change that reflects transactions entering and leaving the rolling window rather than any correction. Both readings are 30-day aggregates taken at different checkpoints.

The route behind the nine transfers remains unstated. Market observers have suggested trading fees or platform-side processes could produce flows of this shape, but no concrete path has been published, and the exchange has not commented on the label or the transactions. Until the operator of the address explains the sends, the tag describes where the tracker places the wallet in its schema, not what the wallet was actually doing.

What the Label Does Not Establish

Our reading of the ledger: the 20.1% share says more about how concentrated tracked burn activity is than about supply pressure. One address carrying a fifth of all 30-day burns means a handful of wallets dominate the dashboard, and headline totals can swing on a single operator's routine. Daily prints run far smaller, as our own coverage of 192,678 SHIB burned in 24 hours showed. The destination does settle one question: tokens at the burn address can never return to sell into the market, so these 152.31 million tokens are permanently out of play. What the placement cannot confirm is who initiated the sends or why, and anyone tempted to credit burns with a market effect should check where price actually stands through our SHIB technical analysis first.