Massive Shiba Inu Token Burn Rocks Market — Originates From Coinbase Wallet

Shiba Inu just witnessed its largest token incineration event in months—and the source has everyone talking.

The Burn Heard Round Crypto

A single Coinbase account initiated the massive SHIB destruction, sending millions of tokens to dead wallets in one decisive move. This isn't your average community-driven burn—this came from a major exchange wallet, signaling either strategic positioning or someone finally admitting their meme coin portfolio needs serious triage.

Market Mechanics Exposed

Token burns typically aim to reduce supply and theoretically boost value, though sometimes it feels like rearranging deck chairs on the Titanic while Wall Street whales play with the thermostat. The Coinbase connection adds institutional intrigue to what's usually retail-driven tokenomics theater.

Supply Shock Potential

With circulating supply taking a measurable hit, the burn creates artificial scarcity—the cryptocurrency equivalent of a manufacturer buying back its own product to prop up prices. Because nothing says 'sound monetary policy' like deliberately destroying what you're trying to sell.

When exchanges start burning tokens from their own wallets, either the fundamentals are shifting or someone's trying to manufacture a narrative—in crypto, it's usually both.

Largest Single Burn In Months

The 140 million SHIB moved on Wednesday stands out as the largest one-off burn in nearly three months. Reports show the last big single send happened on July 28, when an anonymous actor destroyed 600 million SHIB.

Since that July event, most individual burns stayed below 100 million until this Coinbase-linked transfer.

140,033,123 $SHIB -> transferred to dead wallet. https://t.co/EzSFusbkZa

— Shibburn (@shibburn) October 15, 2025

Daily Burn Rate Jumps

Based on reports from Shibburn, nine transactions that day totaled about 140 million SHIB destroyed, pushing the daily burn figure up by 222%.

The tracker’s data also records a cumulative 410 trillion SHIB that have been sent to dead addresses over time.

Ethereum co-founder Vitalik Buterin’s past transfers of around 410 trillion SHIB to a burn contract remain the largest single MOVE toward deflation on record.

Shiba Inu’s total supply remains enormous at roughly 589 trillion tokens. That scale means even large-sounding burns have only a tiny impact on the overall available supply.

Market watchers point out that unless burn activity becomes sustained and much larger in scale, the supply math will not shift meaningfully.

Etherscan shows the burner address executed only that one outgoing SHIB transfer and nothing else. The funding trace to a Coinbase-associated wallet suggests a user on the exchange initiated the action, but the identity behind the address has not been disclosed.

The post-burn balance for SHIB is zero, and the tiny ETH holding left behind makes the move appear deliberate and final.

Even after the large token send to the burn address, SHIB barely moved — it was trading around $0.00001049 when the burn happened, and it slipped only 0.15% over the prior 24 hours.

The bigger picture hasn’t changed: roughly 589 trillion SHIB remain in circulation, so even headline-grabbing burns make only a tiny dent.

This latest action is part of a string of deflation efforts, including Shibarium Layer-2 burns handled through Bone ShibaSwap, which together have removed billions of SHIB from circulation.

This event looks significant in headline terms but small when compared with the huge SHIB supply. The transfer adds to an ongoing narrative of community-led burns that keep holders engaged, yet it is unlikely to change the market trend on its own.

Traders and observers will watch whether similar, larger burns follow, or if this remains a one-off action tied to a single Coinbase-funded address.

Featured image from Unsplash, chart from TradingView