According to records published by community burn tracker Shibburn, the wallet that carried out the transfer was newly created and had only that one visible SHIB transaction.
The 140 million SHIB moved on Wednesday stands out as the largest one-off burn in nearly three months. Reports show the last big single send happened on July 28, when an anonymous actor destroyed 600 million SHIB.
Since that July event, most individual burns stayed below 100 million until this Coinbase-linked transfer.
The tracker’s data also records a cumulative 410 trillion SHIB that have been sent to dead addresses over time.
Ethereum co-founder Vitalik Buterin’s past transfers of around 410 trillion SHIB to a burn contract remain the largest single move toward deflation on record.
Shiba Inu’s total supply remains enormous at roughly 589 trillion tokens. That scale means even large-sounding burns have only a tiny impact on the overall available supply.
Market watchers point out that unless burn activity becomes sustained and much larger in scale, the supply math will not shift meaningfully.
Etherscan shows the burner address executed only that one outgoing SHIB transfer and nothing else. The funding trace to a Coinbase-associated wallet suggests a user on the exchange initiated the action, but the identity behind the address has not been disclosed.
The post-burn balance for SHIB is zero, and the tiny ETH holding left behind makes the move appear deliberate and final.
The bigger picture hasn’t changed: roughly 589 trillion SHIB remain in circulation, so even headline-grabbing burns make only a tiny dent.
This latest action is part of a string of deflation efforts, including Shibarium Layer-2 burns handled through Bone ShibaSwap, which together have removed billions of SHIB from circulation.
This event looks significant in headline terms but small when compared with the huge SHIB supply. The transfer adds to an ongoing narrative of community-led burns that keep holders engaged, yet it is unlikely to change the market trend on its own.
Traders and observers will watch whether similar, larger burns follow, or if this remains a one-off action tied to a single Coinbase-funded address.
Featured image from Unsplash, chart from TradingView
