Shiba Inu slips to $0.00000572 as burn rate jumps 17,134% and exchange reserve hits 88 trillion
SHIB traded at $0.00000572, down 2.30%, while Shibburn logged a 17,134.60% daily burn jump and CryptoQuant put exchange supply at 88,076,900,000,000 SHIB.
Why it matters
Two large shifts point in opposite directions. Exchange reserves at a four-month high alongside a positive netflow of over 288 billion SHIB put more of the float on venues where it can be sold, while the burn rate rose sharply off a low baseline, with Bitcoin Insider reporting that such swings follow single large burn-address transfers and do not shrink a float in the hundreds of trillions at any material pace. Neither figure alone sets the direction of the token; the disagreement between a 2,976,589-token daily burn and a roughly 20-billion-token figure also leaves the actual scale of the surge unsettled.
Where the sources disagree
Tokens removed from circulation in the burn window
2,976,589 SHIB burned in the period (CoinGape citing Shibburn)
CoinGape
Approximately 20 billion SHIB removed from circulation (Bitcoin Insider)
Bitcoin Insider
CoinGape cites 2,976,589 SHIB burned from Shibburn's dashboard while Bitcoin Insider reports approximately 20 billion SHIB removed from circulation, a difference of several orders of magnitude.
SHIB price level and 24-hour change
$0.00000572, down 2.30% (CoinGape)
CoinGape
$0.00000589, up 1.73% (Crypto News carrying Coedition analysis)
Crypto News (CryptoNews.net)
down nearly 3% over the last 24 hours (U.Today)
U.Today
CoinGape and U.Today report SHIB near $0.00000572 and down, while the Coedition analysis in Crypto News puts it at $0.00000589 and up 1.73%.
Key facts
Shiba Inu traded at $0.00000572, down 2.30% over 24 hours, while market capitalisation fell 2.34% to about $3.37 billion.
0 USDDisputed figureReported by CoinGape
Bitcoin Insider, citing crypto outlets without naming them, reported roughly 20 billion SHIB removed from circulation during the same window.
20,000,000,000 SHIBDisputed figureReported by Bitcoin Insider
CryptoQuant data put SHIB's available supply across supported exchanges at 88,076,900,000,000 SHIB as of October 3, the highest since around June 3.
88,076,900,000,000 SHIBReported by U.Today
SHIB's exchange netflow reflected a positive balance of over 288 billion SHIB.
288,000,000,000 SHIBReported by U.Today
The largest burn transaction listed by Shibburn involved 2,622,378 tokens from an address the tracker labelled Coinbase, alongside 179,289 SHIB from an address labelled Robinhood and 174,923 tokens from a separate wallet, with transfers occurring between October 2 and October 3.
2,622,378 SHIBReported by CoinGape
Weekly burns reached 102,767,542 SHIB and the 30-day total 421,865,854 tokens, valued at roughly $599 and $2,300.
421,865,854 SHIBReported by CoinGape
What happened
Shiba Inu traded at $0.00000572 on October 3, down 2.30%, with market capitalisation falling 2.34% to about $3.37 billion, as Bitcoin hovered below $85,000 and the wider crypto market weakened. Shibburn's October 3 dashboard showed the daily burn rate rising 17,134.60% over 24 hours, with 2,976,589 SHIB burned at an estimated value of $17, including 2,622,378 tokens from an address the tracker labelled Coinbase and 179,289 from one labelled Robinhood. Weekly burns reached 102,767,542 SHIB and the 30-day total 421,865,854 tokens, with cumulative tracked burns of 410,844,457,261,735 SHIB. Bitcoin Insider, citing crypto outlets rather than naming them, put the daily figure at roughly 20 billion SHIB removed from circulation, a far larger number than CoinGape's 2,976,589 tokens for the same period. U.Today reported from CryptoQuant data that SHIB's available supply across supported exchanges reached 88,076,900,000,000 SHIB as of October 3, its highest since around June 3, alongside a netflow balance of over 288 billion SHIB. The technical picture also differs across sources: CoinGape pointed to $0.00000550 support and $0.000006 resistance, while the Coedition analysis in Crypto News argued the 20-day EMA at $0.00000566 and 200-day EMA at $0.00000565 formed a support zone with MACD just under its signal line at 0.00000016 against 0.00000017, and read SHIB at $0.00000589, up 1.73%, with a target of $0.00000650 still requiring a break above $0.00000600 and the late-September high near $0.00000625. U.Today noted SHIB down nearly 3% over 24 hours and wrote that analysts it quoted expect bearish traders may be taking over the market. What remains unresolved is whether the burn surge can move price: Bitcoin Insider reported that analysts tracking the mechanism consider supply reduction at this pace would take an extended period to matter, given SHIB's circulating supply runs into the hundreds of trillions.
How the story developed
- First report
First report by Crypto News (CryptoNews.net)
Shiba Inu Price Prediction October 2026: Can SHIB Build on a 13.5% September?
- Update
Coedition technical analysis sets $0.00000565 as the level to hold
The analysis said SHIB trades at $0.00000589 and needs to clear $0.00000600 and the late-September high near $0.00000625 to reach $0.00000650.
- Update
CryptoQuant exchange reserve reaches 88,076,900,000,000 SHIB, a four-month high
Available supply across supported exchanges hit the highest level since around June 3 with a netflow of over 288 billion SHIB.
- Independent corroboration
Independently corroborated by CoinGape
Shiba Inu Price Eyes Recovery as Burn Rate Soars 17,134% in 24 Hours
- Update
Bitcoin Insider publishes a broader burn-magnitude figure
The article reports roughly 20 billion SHIB removed from circulation and quotes analysts saying supply reduction at that pace would take an extended period to meaningfully shrink the token count.
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 2 Oct 2026, 18:27 UTC: Crypto News (CryptoNews.net) — 1 independent source, 1 reports
- 3 Oct 2026, 17:39 UTC: CoinGape — 2 independent sources, 2 reports
- 3 Oct 2026, 22:01 UTC: U.Today — 3 independent sources, 3 reports
- 4 Oct 2026, 00:15 UTC: Bitcoin Insider — 4 independent sources, 4 reports
Affected entities
Also mentioned: Chainlink, Optimism, U.S. Securities and Exchange Commission, Coinbase, XRP, Robinhood
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Crypto News (CryptoNews.net) Aggregator | Shiba Inu Price Prediction October 2026: Can SHIB Build on a 13.5% September? | Original | |
| CoinGape Crypto media | Shiba Inu Price Eyes Recovery as Burn Rate Soars 17,134% in 24 Hours | Independent | |
| U.Today Crypto media | 88 Trillion SHIB Threshold Back in Play as Shiba Inu Loses New Price Target | Syndicated | |
| Bitcoin Insider Aggregator | Shiba Inu Burn Rate Jumps 17,134% as 20 Billion SHIB Leave Circulation | Syndicated |
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