Over the last 30 days, approximately 418.66 million Shiba Inu (SHIB) tokens have been removed from circulation through various burn transactions. data indicates that the exchange Coinbase played a massive role in this deflationary trend, accounting for nearly one-third of the total volume.
Coinbase's 143 million SHIB contribution to the monthly burn
Coinbase has emerged as a central figure in the recent reduction of the Shiba Inu circulating supply. According to data from Shibburn, the exchange accounted for 143,956,168 SHIB tokens burned over a 30-day period.. This represents a significant portion of the 418.66 million total tokens removed from the ecosystem during this timeframe.
These burn transactions are not typically executted as single, massive transfers. Instead, as reported by community trackers, they often stem from various individual transactions that may originate from Coinbase trading activities or platform-specific fees. once these tokens are burned, they are sent to unrecoverable "dead wallets" that possess no known private keys, effectively removving them from the market forever. This process is a key metric for the SHIB community, as it gradually shrinks the available supply of the token.
A 154% spike in the daily burn rate
The pace of token detruction has experienced significant volatility in recent days. While the weekly burn rate actually saw a 22.29% decrease compared to the previous week, the 24-hour burn rate experienced a massive surge. Specifically, the daily burn rate is up 154.33%, according to Shibburn reporting.
In the most recent 24-hour window, a total of 68.29 million SHIB were burned. Of that amount, Coinbase contributed a substantial 47,419,390 SHIB tokens. This sudden spike in daily activity contrasts sharply with the more subdued weekly totals, highlighting how concentrated recent burning efforts have been within a very short window of time.
Macroeconomic headwinds and the upcoming Fed inflation report
Shiba Inu's price action remains closely tethered to broader economic signals despite the increased burn activity. The token saw a slight 0.07% decrease in the last 24 hours, a movement that mirrors a broader downturn in the cryptocurrency market. This volatility comes as investors await the Federal Reserve's latest inflation gauge, which is scheduled for release this Wednesday.
The upcoming report is a critical focal point for traders because inflation has remained well above the central bank's 2% target. The Federal Reserve's stance on interest rates continues to dictate market sentiment; following their September meeting, officials approved a quarter percentage point rate increase and suggested that further hikes might occur before the end of the year. For speculative assets like Shiba Inu, the threat of sustained high interest rates often creates a headwind for price appreciation.
The search for a 2026 golden cross
Despite the immediate macroeconomic uncertainty, technical indicators suggest a potential long-term turning point for SHIB. The token is currently on track for a "golden cross" on its daily chart, a technical pattern where the 50-day moving average (MA 50) converges with the 200-day moving average (MA 200).. If this convergence is confirmed, it would mark the first golden cross for Shiba Inu in 2026, following the last visible instance in November 2024.
However, several questions remain regarding the sustainability of this momentum. It is currently unclear whether the heavy concentration of burns coming from Coinbase is a result of organic community demand or simply a byproduct of increased exchange-led trading volume. Furthermore,market participants are waiting to see if this technical setup can actually withstand the downward pressure of the Federal Reserve's monetary policy. Whether the reduction in supply is enough to offset the macro-driven sell-off remains the primary unanswered question for SHIB holders.
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