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Only 10 Addresses Controlling More Than 60% Of Shiba Inu Supply

Shiba Inu made news when it changed the lives of many early investors, many of whom are now billionaires. $SHIB has a lot of community support, which is one of the key reasons for Shiba Inu’s climb to fame. In this post, we will look at some $SHIB statistics, specifically the allocation of wealth among different holders and exchanges.

 

The top ten richest Shiba Inu addresses are shown in the rich list published by Coincarp. At the time of writing, there were 933,956 $SHIB holders, with the top 10 addresses controlling more than 60% of Shiba Inu supply.

At first glance, this may appear to be a media headline, but upon closer inspection, the reality is much different.

The top holder is a Black Hole address, which contains more than 41% of the total Shiba Inu supply. Vitalik Buterin sent $SHIB to this address in order to burn them and limit the overall supply. He did end up contributing over $1 billion in Shiba tokens to the India Covid Relief fund, but the remainder was burned.

 

The second-largest holder controls 4.41 percent of the overall Shiba Inu supply. Over 2 trillion $SHIB tokens are stored in this wallet.

The second-largest holder controls 4.41 percent of the overall Shiba Inu supply. Over 2 trillion $SHIB tokens are stored in this wallet.

“BuryShib is the coolest pit in town. You come in with some Shib, and leave with more! The longer you stay, the more Shib you get.”

According to the comments, many users believe this is a hacker’s wallet that stole their funds.

Here’s just one example of many such comments:

“Hi, would anyone be able to assist me? I unstaked my xshib from shibaswap to my MetaMask wallet. I have then tried to send my xshib to my crypto wallet. My xshib has now been diverted to this address. Is there any way of retrieving these tokens?”

 

According to the comments, many users believe this is a hacker’s wallet that stole their funds.

Below that is the notorious $8 billion whale wallet, which has been making the rounds in the headlines. Last week, it transferred 40 trillion $SHIB to four other addresses. On November 9th, the same whale transferred another 20 trillion $SHIB to two additional addresses.

The market clearly does not want to see those coins move, and the market’s uncertainty over whether the whale will try to sell the coins on an exchange is a major factor for $SHIB’s present bearish momentum.

The addresses that follow the whale each hold about 1% of the total supply of $SHIB. While it may appear at first glance that Shiba Inu has a large number of holders with an unjust amount of coins, the reality is quite different.