SHIB whales are on the move. As Ethereum whales favor Shiba Inu (SHIB) despite the bear market, some have accumulated an impressive amount of the memecoin.
Very popular on the Ethereum blockchain, Shiba Inu seems to be on its way to becoming perhaps much more than a memecoin. This is thanks not only to the unflagging support of its community but also to the growing number of projects within its ecosystem. Ethereum whales seem to love the token, as it regularly tops the list of transactions made on the ETH network.
SHIB Whales: How many tokens do they have?
The most extensive wallet of SHIB tokens is of course the Burn Wallet, also known as Dead wallet. This is where all the tokens are being burned and consequently taken out of the supply. With a value of $4.8 billion, it amounts to 48,732,607,971,750.43 tokens at the time of writing. This wallet is constantly growing with a 12-hour increase of over 4 million additional tokens.
Vitalik Buterin, founder of Ethereum, has also greatly contributed to the development of this Dead Wallet, by transferring 90% of the tokens he had received from Ryoshi, the creator of the Shiba token, who had donated 50% of the total supply.
From the various list of wealthy holders, we can see similar amounts of holdings, with 12-15 wallets owning more than 1% of the outstanding supply of the more than one million holders in the project.
According to Watcher Guru’s rich list, 14 wallets hold the equivalent of more than $100,000,000 in SHIB. The first wallet holds $577,000,000 (or 48,732,607,971,750.43 SHIB tokens!). This wallet even accounts for almost 5% of the total supply of tokens in circulation.
Among the other main holders, we notice that the number of tokens held is similar, with no monopoly from a specific whale. As a matter of fact, most whales own between 2-3% of the tokens, and overall, none of them owns more than 10% of the circulating supply. This is contrary to what can be seen on some projects in the crypto sphere.
In case the token reaches values close to $0.01, $0.1 or even the long-awaited (but highly unlikely for now) $1, a very large part of Shiba holders would become millionaires. However, for the time being, even with the repeated purchases made by the main Ethereum whales or the increase in token burns, the price of SHIB has not seen any real increase in recent days.
It is however possible that the proliferation of projects based around the token combined with a bullish cycle could greatly contribute to the increase of the price, which would greatly please the holders willing to achieve wealth with their SHIB investment.