The 143,956,168 $SHIB tokens burned did not come in one lump sum but rather from various burn transactions that may have originated from Coinbase transactions and trading fees. These burn transactions are sent to unrecoverable “dead wallets” with no known private key, are recorded on-chain, and are reported by community trackers such as Shibburn.
The Shiba Inu community pays close attention to burns, especially from major platforms, as they gradually reduce the token’s circulating supply. In the last 24 hours, 68.29 million $SHIB were burned, and Coinbase contributed 47,419,390 $SHIB to that total. The daily burn rate is up 154.33% according to Shibburn.
In the last seven days, 86.75 million $SHIB were burned, a relatively smaller amount compared to the previous week, with the weekly burn rate dropping 22.29% as a result.
Shiba Inu eyes golden cross
Shiba Inu is down 0.07% in the last 24 hours as the broader crypto market traded largely down ahead of the Fed’s main inflation measure, which will be released today.
The Fed’s preferred inflation gauge will be released Wednesday and is expected to show little or no change in the year-over-year rate, which is holding well above the central bank’s 2% target. At their September meeting, Fed officials approved a quarter percentage point rate increase and indicated that another might be likely before the end of the year.
In a positive price development, Shiba Inu is on track for a golden cross on its daily chart as the MA 50 and MA 200 are set to converge. If confirmed, this will be Shiba Inu’s first golden cross of 2026.
This development remains significant for $SHIB, which last saw a golden cross about two years ago. Shiba Inu’s last visible golden cross was in November 2024 and one month later, in December 2024, it reached a high of $0.0000334.
