Coinbase Leads Shiba Inu Burners as Token Sees Gradual Supply Reduction

Coinbase has topped the Shiba Inu monthly burners, sending 143,956,168 SHIB tokens to dead wallets. This accounts for nearly one-third of the total burned in the last 30 days, with a total of 418.66 million SHIB removed from circulation.

The $SHIB burns permanently remove tokens from circulation by sending them to inaccessible addresses. The Coinbase transactions that may have originated from trading fees and other activities resulted in various burn transactions spread out over time.

According to Shibburn, a community tracker, the Shiba Inu community pays close attention to these burns as they gradually reduce the token's circulating supply. In the last 24 hours, Coinbase contributed 47,419,390 SHIB tokens to the total burned.