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The big shiba shiba has been burning for months – and it appeared on the Coinbase account

A connected wallet like Coinbase sent 140,033,123 tokens

According to the records published by the public burning tracker shibburn, the transfer fund was recently created and had only visible sales.

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ETERSCAN data shows this address is sponsored by a wallet tied to Coinbase, and currently holds 0.002 Eth Eth, which is worth about $9.

One big burn in months

140 million shib were moved on Wednesday as it was the hottest in three months. Reports indicate one major sending occurred on July 28, when an unknown actor destroyed 600 million shibs.

Since that July event, most of the individual burns remained below 100 million until the coinbase was transferred.

Daily burn rate

Based on reports from shibburn, nine transactions that day spent about 140 million shibs destroyed, pushing the daily burn figure by 222%.

Tracker data also records a shib of 410 trillion good ships sent to dead addresses over time.

The founder of Edereum Counder Vitalik Buterin’s Presend Transfers around 410 trillion shib in a hot contract is always passing one by one in the record setting.

Providing still

The shiba Inu’s supply stands at 589 trillion tokens. That estimate means even more burning with only a small impact on available supply.

Market Watchers point out that unless the heat operation is strengthened and scaled up, supply figures will not change meaningfully.

Shib Market Cap is currently at $6.09 billion. Chart: Trade by trade

Wallet details and transparency

ERSSCAN shows the hot address is done only if the output shib is output and nothing else. Tracking the money in the Wallet associated with Coinbase suggests the user in the exchange initiated the action, but the identity behind that address was not disclosed.

The shib’s post-burn balance is zero, and the tinyth left-hand grip makes the ride seem deliberate and final.

Price action and technical levels

Even after the big token sent to the hot address, Shib was moved a little – it was selling about $ 0.00001049 when it happened to burn 0.15% more than 24 hours before 24 hours before.

This big picture hasn’t changed: about 589 trillion shibs remain in circulation, so the heat that captures the entry only makes small dents.

This latest action is part of a string of transplant efforts, which include burning shibarium layer-2 managed by using bone marrow, which together removed billions of shib from circulation.

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Market influence remains limited

This event seems important to the head names but is small compared to the large offer of shib. The transfer adds to the ongoing narrative of restricted public burning that keeps the incumbents engaged, but is unlikely to change the trend of the market itself.

Traders and observers will check if the same burning, follows, or if this is always one step tied to one paid address.

Featured image from unscurcwach, chart from trade sale



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