Half a Billion SHIB Sent to Dead Wallets: Will the Burn Finally Boost SHIB Price?

• 588.2 million SHIB were burned in August, including over 56 million from Robinhood and Coinbase.
• August burns dropped sharply from July’s 3.24 billion SHIB, weakening the supply reduction effect.
• SHIB needs stronger demand and renewed burn momentum before scarcity can significantly boost price.

Shiba Inu investors are watching another major token burn as SHIB struggles to regain momentum. More than half a billion SHIB disappeared from circulation during August. Robinhood and Coinbase contributed millions of tokens to the total. However, August burns fell sharply from July’s massive burn figure. That raises a key question for holders. Can reduced supply create enough buying pressure to push SHIB higher? The answer may depend on demand, market sentiment, and future burn activity.

SHIB Burns Slow Down Despite Exchange Participation

According to Burnalytics data, 588.2 million SHIB reached dead wallets during August. These wallets cannot send tokens back into circulation. Therefore, burned SHIB effectively leaves the available supply permanently. Robinhood contributed 39.04 million SHIB through 101 separate transactions. Coinbase added another 17.28 million SHIB through 11 transactions. Combined, both exchanges burned more than 56 million SHIB during August.

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