- Anonymous Coinbase user burns 140.03 million SHIB tokens in single transaction.
- Daily burn rate increases 222.84% following October 15 incineration event.
- Largest individual burn since July 28 when 600.7 million tokens destroyed.
A Coinbase wallet holder has executed a burn of over 140 million Shiba Inu tokens, marking the largest single destruction transaction recorded in nearly three months. Community burn tracker Shibburn identified the transfer on October 15.
The transaction occurred at approximately 20:14 UTC when anonymous address 0x27d…fe606 transferred 140,033,123 SHIB tokens to the dead wallet. This action permanently eliminates the tokens from circulation with no possibility of recovery.
The burn pushed total 24-hour destruction to 140.39 million SHIB across nine separate transactions. Data from Shibburn shows the daily burn rate increased 222.84% following the large-scale incineration.
Three-month burn record established
The 140.03 million token burn represents the largest individual destruction event since July 28. On that date, an anonymous user sent 600.7 million SHIB to the burn address in a single transaction.
Individual burn transactions have remained below 100 million tokens throughout the interim period until this recent Coinbase-linked wallet activity. The July 28 event marked the previous benchmark for large-scale burns before the current transaction.
Total burned supply across Shiba Inu’s history has reached 410.75 trillion tokens. Ethereum co-founder Vitalik Buterin contributed a substantial portion to this total when he sent approximately 410 trillion SHIB to the burn contract.
Current circulating supply stands at roughly 589.25 trillion tokens. This figure has remained relatively stable over recent years with minimal progress toward supply reduction since Buterin’s contribution.
The burn mechanism removes tokens from circulation by sending them to addresses with no known private keys. These dead wallets function as permanent storage with no method for retrieving or accessing the deposited tokens.
Impact on supply dynamics
While the 140 million token burn creates upward pressure on scarcity metrics, the impact remains limited relative to the 589 trillion token supply. The burned amount represents approximately 0.024% of current circulation.
Community-driven burns continue occurring through various mechanisms including transaction fees, voluntary destructions, and protocol-level burns. The cumulative effect over time gradually reduces available supply though the pace remains slow given the initial token quantity.
Shibburn tracks all destruction transactions providing transparency for community members monitoring deflationary progress. The platform aggregates data from multiple burn addresses documenting the ongoing supply reduction efforts.
Source: https://thenewscrypto.com/shiba-inu-sees-biggest-single-burn-in-nearly-3-months-at-140-million-tokens/
