A Coinbase user executed a significant burn of 140.03 million Shiba Inu (SHIB) tokens on October 15, marking the largest single burn in nearly three months. The transaction, which sent the tokens to a dead wallet, was reported by community tracker Shibburn. Etherscan data indicates the wallet involved was newly created and linked to Coinbase, receiving funds from a Coinbase-associated address.
This burn event increased the daily SHIB burn rate by 222.84%, with a total of 140.39 million SHIB burned across nine transactions. Despite this substantial burn, the price of SHIB fell by 3% over 24 hours, trading at $0.00001039.
Coinbase User Burns 140 Million SHIB Tokens in Major Transaction
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