SHIB Inflation Analysis · October 2026 · Mixed flows · supply roughly steady

Looking for the buy-or-sell answer? It is on the SHIB coin page, with demand and price drivers: mrnasdog.com/research/shib Shiba Inu (SHIB) supply is flat: 0.00% over the 90 days to Oct 23 2026, and about 0.00% again over the next 90 days. The SHIB token on Ethereum cannot mint, has no vesting and no team allocation, so new supply is 0. Holders and apps burned 4.57B SHIB in the window against 589.24T circulating, a drop of less than one thousandth of a percent, and we expect about 1.67B SHIB of burns next.

The verdict, in one paragraph

On-chain, SHIB supply moved 0.00% in the last 90 days (exactly −0.0008%): zero new SHIB against 4.57B SHIB destroyed. The forward reading is also 0.00%, with about 1.67B SHIB of burns projected. Other trackers read +0.17% for the same 90 days, a gap of 0.17 percentage points. That small difference is day-to-day wobble in market data for a coin priced at a few millionths of a dollar, not new SHIB, so no warning is shown. In one line: Shiba Inu is a fixed-supply meme token whose burns are real but far too small to move the count.

Sell pressure: where new SHIB comes from

Protocol inflation is 0, and the SHIB code makes sure it stays that way. The token contract has twelve functions: send, approve, read balances and burn. There is no mint function, no owner and no upgrade switch, so nobody, the team included, can ever print more SHIB. Every one of the 1 quadrillion SHIB was created once, when Shiba Inu launched in August 2020. That is why this row carries a permanent tag.

Vesting unlocks are 0. At launch half of all SHIB went into a Uniswap trading pool and the other half was sent to Ethereum co-founder Vitalik Buterin, who burned most of his share in May 2021. No team, investor or private-sale tranche ever existed, so there is no unlock calendar and no cliff to wait for.

Foundation and unscheduled unlocks are 0. The Shiba Inu team does not publish a SHIB treasury wallet, and no team sale showed up in the window. Only 257.44B SHIB sits outside the circulating count, and almost all of it is stuck for good, as explained in the overhang section below.

Long-term locked or bankruptcy coins are 0. About 54.90B SHIB seized by the US government in the FTX case sits in a government wallet and did not move between Jul 25 and Oct 23 2026. Those coins already count as circulating, so a sale would be an existing holder selling, not new SHIB.

Buy pressure: where new SHIB goes

Programmatic buyback is 0. No contract or treasury buys SHIB back for the network, and Foundation buy is 0 because the team does not buy SHIB on the market either.

Protocol fee burn is 0 right now. Shibarium, the SHIB layer-2 network, was built to turn part of its fees into SHIB burns on Ethereum. Its burner collects the fees, swaps them to SHIB and sends the SHIB to a dead wallet through the Shibarium bridge. But the bridge lane it needs has been paused since the 2025 bridge hack, so the burn cannot finish; on Oct 22 2026 it held about 371 BONE in fees, short of its 1,000 BONE trigger. About 173.89M SHIB was burned on Shibarium itself in the window, but those are layer-2 copies, and the SHIB count on Ethereum does not change.

New long-term lock is 0. The main SHIB staking vault holds about 3.45T SHIB and shrank by 81.86B as people withdrew. Staked SHIB still counts as circulating, so the vault takes nothing out of the count.

The one real buyer is row 5, burns by holders and apps: 4.57B SHIB. Between Jul 25 and Oct 23 2026 people sent 3.70B SHIB to the main Shiba Inu dead wallet, 135.09M to a second dead address and 732.25M to the SHIB token contract itself, where no function can ever move them; another 2.31M were destroyed with the token’s own burn function. A fee contract from a new swap app, launched on Jul 25 2026, did most of the work: it burned 2.90B SHIB in its first week and only small batches after that. That launch week is not expected to repeat, so about 1.67B SHIB of burns is expected in the next 90 days.

Foundation and overhang

Shiba Inu has almost no overhang. Of the 257.44B SHIB outside the circulating count, about 255.66B sits inside the SHIB token contract, and another 809.55M and 191.78M sit inside the BONE and LEASH token contracts. All of it was sent there by mistake or on purpose, and none of those contracts has any way to send it back out, so those coins are gone in practice. That leaves about 781M SHIB held by a wallet we cannot name, the only coins that could still join the float, a tiny slice of 589.24T.

Inside the float we also follow the US government’s FTX-case wallet (54.90B SHIB), the original deployer wallet (about 50.50M), and any team treasury, which has no public address and no reported SHIB payouts. If the unknown 781M holder starts sending SHIB out, those coins join the float and we will count them as new supply at the next check; the other wallets already count as circulating, so their sales would be selling, not new SHIB.

How SHIB compares to other meme coins

Meme coins split into two kinds. Dogecoin (DOGE) is a proof-of-work chain that pays miners 10,000 new DOGE in every block, about 5B DOGE a year, with no cap, so it grows by a few percent a year by design. SHIB is the other kind: a token on another chain, created all at once, with no miners or stakers to pay. Fixed-supply meme tokens such as PEPE work the same way. For this kind the supply question is settled at launch; what is left is who holds the coins and whether anything takes them away.

What sets Shiba Inu apart is the burn. SHIB has a famous dead wallet that already holds 410.44T SHIB, 41% of everything ever made, most of it from Vitalik Buterin’s 2021 burn, and a community that keeps adding to it. But today’s burns are voluntary and small: 4.57B SHIB in 90 days is under one thousandth of a percent of supply. A fee burn tied to network use, like Ethereum’s, would scale with activity; Shibarium’s version of that is stuck behind the paused bridge. So SHIB sits between the two: no inflation at all, and a deflation story that, at today’s pace, barely shows up in the numbers.

What to watch in the next 90 days

The Shibarium bridge reopening its token lane. There is no date yet; once it opens, the stuck fee burner can send SHIB to the dead wallet again and the fee burn row comes back to life.

The swap app’s fee contract that burned 2.90B SHIB between Jul 25 and Jul 31 2026. Its last batch was on Oct 14 2026; a second burst would lift the buy side, but nothing schedules one.

The US government’s FTX-case wallet with 54.90B SHIB. A sale would add selling, not new supply, and the wallet did not move between Jul 25 and Oct 23 2026.

SHIB on Solana, live since Oct 4 2026. Coins that cross are held back on Ethereum and copied on Solana, so it adds no SHIB; we watch it only to keep the count honest.

The unknown 781M SHIB outside the circulating count. If it starts to move it enters the foundation row, though even all of it would be about 0.0001% of supply.

Summary

Shiba Inu (SHIB) supply is flat at 0.00% over the last 90 days and the next 90 days, because the SHIB token cannot mint and nothing vests. Holders and apps burned 4.57B SHIB in the window and we expect about 1.67B more, both far too small to show against 589.24T circulating. The main risk to the burn story is that the Shibarium fee burn stays stuck behind its paused bridge, leaving SHIB with only voluntary burns. The ceiling is fixed at what already exists: SHIB can only stay the same or shrink.

MrNasDog Pressure Framework analysis of SHIB, Metric 1 — Inflation. Data + explanation only. Not financial advice. Checked Oct 23 2026.

Original: https://mrnasdog.com/research/shib/inflation · Data + explanation only. Not financial advice.