SHIB · the famous burn is a rounding error.
Shiba Inu is an Ethereum token with a supply that was fixed the day it was made. 1 quadrillion coins were created in one transaction in August 2020, roughly 410 trillion of them are sitting in graveyard addresses, and the 589 trillion left is the whole live supply. Nothing in the contract can add a coin.
Sell pressure. Zero, on every row. There is no mint function, nothing left to vest, no project treasury holding SHIB, and no estate to distribute.
Buy pressure. 3.64B SHIB destroyed over 90 days from layer-2 fees and voluntary sends. Real, but it is 0.0006% of what is alive.
Net. The supply shrank by 0.0006% in 90 days and should do about the same again — roughly neutral. Flat, not deflationary.
SHIB cannot be minted. The published source is one small file with twelve callable functions and none of them creates coins — the single mint call sits in the constructor and ran once at launch. There is no owner either, so nobody can add one later; it was never renounced because it never existed.
Nothing vests and nothing is left to unlock. The whole supply was created in a single transaction in August 2020 — half into a liquidity pool, half to one recipient — with no investor round, no team cliff and no release calendar. The unlock trackers show the schedule finished in 2020 with no future events.
There is no project treasury holding SHIB. What is watched instead: an unlabelled off-market bucket of 256.9B that the classifier keeps outside the counted float, a founder-donation wallet holding 50.5M and a relief-fund wallet holding 2.25M, both of which did not move a single coin this window, and a bridge escrow of 90.95M that also did not move.
No estate, no trustee, no court-ordered distribution. SHIB has never been part of a bankruptcy and there is no long-term locked block scheduled to open.
The staking vault shrank 104.73B over the window, from 3.59T to 3.49T. It is not booked as sell pressure: the receipt token is an ordinary transferable coin, withdrawals carry no waiting period at all, and the vaulted SHIB is already counted inside the live supply — so leaving the vault moves nothing to market that was not already there.
There is no buyback. An August 2026 claim that the founders are planning a 500 million dollar SHIB buyback traces to a single social-media post with no project announcement, no contract and no dated amount behind it, and nothing matching it appears on-chain.
3.64B SHIB was destroyed over 90 days. 3.49B went to the main graveyard address and 148.68M to the secondary one, while a further 517,922 was destroyed outright through the contract's own burn call, which is the only thing that can lower the number the contract reports. It comes from layer-2 fee revenue plus voluntary sends by exchanges and trading apps, and it is 0.0006% of the live supply.
No project entity bought SHIB. There is no treasury to buy with and no accumulation wallet was identified on-chain; the wallets tied to the launch only sit still.
Nothing new was locked, and the one staking vault SHIB has is not a lock in the first place — withdrawals are instant and the receipt trades freely. It also shrank rather than grew this window.
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