According to data from the Shibburn tracker, Coinbase has become the largest single contributor to Shiba Inu burns over the past 30 days, sending 143,956,168 SHIB to inaccessible dead wallets. This represented nearly one-third of the 418.66 million SHIB burned during the period.
The burned SHIB did not come from one lump sum but from multiple burn transactions likely tied to Coinbase trading activity and fees. These tokens are permanently removed from circulation by being sent to addresses with no known private keys, with all activity recorded on-chain and tracked by community platforms such as Shibburn.
In the last 24 hours, the Shiba Inu community burned 68.29 million SHIB, with Coinbase responsible for 47,419,390 SHIB of that amount. The daily burn rate has jumped by 154.33%, according to Shibburn. Over the last seven days, however, 86.75 million SHIB were burned, and the weekly burn rate fell by 22.29% compared with the previous week.
On the price side, Shiba Inu was down 0.07% over 24 hours as the wider crypto market traded cautiously ahead of the Federal Reserve's preferred inflation gauge. That release was expected to show little or no change in the year-over-year inflation rate, which remains well above the Fed's 2% target. At their September meeting, Fed officials approved a quarter-percentage-point rate increase and signaled another hike could be possible before year-end.
In a potentially notable technical development, Shiba Inu is on track to form a golden cross on its daily chart as the 50-day and 200-day moving averages converge. If confirmed, this would be SHIB's first golden cross of 2026. The last visible golden cross occurred in November 2024, and SHIB reached a high of $0.0000334 about a month later in December 2024.
