21 Jun 2021 10:15 AM +00:00

Who Owns The Most Shiba Inu Coin?

If you're wondering who holds the most Shiba Inu Coin, it's not that simple.

Cryptocurrency whales are an important part of the cryptocurrency ecosystem. Both the bitcoin and Ethereum holders are well-known and discussed in the community, alongside the contents of Elon Musk's wallet.

However, is it the same for Shiba Inu, or are the holders more anonymous like with Dogecoin?

Who holds the most Shiba Inu Coin?

The largest holder of Shiba Inu Coin is a dead wallet created by Ethereum's co-founder Vitalik Buterin.

When SHIB first launched, it gave 50% of its total circulation to Buterin as part of its marketing. However, in May 2021, Buterin burned 410,241,996,771,871 SHIB by sending it to a dead address, effectively removing 41% of the entire SHIB circulation. This was worth over $7.3bn on the day of the transaction. In a note, Buterin said:

I've decided to burn 90 per cent of the remaining Shiba tokens in my wallet. The remaining 10 per cent will be sent to a (not yet decided) charity with similar values to cryptorelief (preventing the large-scale loss of life) but with more long-term orientation.

Buterin also said that holding onto the SHIB in his public wallet was "never an option".

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For security reasons alone they would have to be moved to a better wallet eventually, and any transaction I make would get interpreted as an action. So … may as well do the useful thing immediately.

The second-largest SHIB address belongs to an anonymous investor who holds 70 trillion SHIB - some 7% of circulation. This is currently worth $520,000,000.

SHIB followers on Reddit have speculated about the identity of this wallet as part of their whale watching efforts. Some suggest that as the address acquired a significant amount of SHIB near its formation, it could be one of the Shiba Inu founders.

However, SHIB's founder - Ryoshi - may disagree.

How much Shiba Inu does Ryoshi hold?

Shiba Inu Coin's founder has maintained that they do not own as much SHIB as people would think.

In a blog post, Ryoshi stated:

Even as the Shiba Token “mooned” I got many messages like “ryo, you must be a billionaire now, haha” but the reality is still to this day I own 0 SHIB. Why? Well if I did, then I can’t be who I am and for now I know that I have a role to play. I can’t be pure and unbiased if I am worried about price up and down and taking profits. (don’t worry, the great Shiba will reward me in other ways i guess)

Ryoshi's identity remains unknown. This statement means that unlike bitcoin's founder Satoshi Nakamoto, who owns over 1,000,000 BTC, Ryoshi is not among the SHIB whales.

READ MORE: When did Dogecoin first start trading?

[Image by Viktor Forgacs on Unsplash]

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