SHIB Burn Rate Surges 17,134.60% in 24 Hours

The SHIB burn rate saw a significant increase, rising by 17,134.60% in 24 hours, according to Shibburn's October 3 dashboard. The reported total was 2,976,589 SHIB, worth approximately $17. However, the largest transfer, which accounted for nearly 88% of the reported daily burn, came from an address labeled Coinbase and was only worth $14.97.

The available evidence does not confirm that this transfer reduced SHIB's circulating supply. A transfer from an exchange-associated address to another address is not necessarily a burn. The distinction matters because temporary routing or exchange activity can raise a burn tracker's 24-hour figure without delivering a comparable supply reduction.

Shibburn's live counter later showed 2,797,301 SHIB burned over a different 24-hour window, valued at $16. The figure was below the 2,976,589 SHIB cited in the report because the two readings did not cover the same window.