Who Owns the Most Shiba Inu Coin?

1 February 2023

In the world of crypto, Shiba Inu has a special place. This is because it was developed by a mysterious developer named Ryoshi, whom very little is known about. While once thought of as the most prominent owner of the Shiba Inu coin, he has staunchly denied this. In this article, we’ll talk about who owns the most Shiba Inu coin and what its effects could be.

How Many Shiba Inu Holders are There? 

Becoming a SHIB holder was common during the last cryptocurrency bubble, as the coin was cheap. It was an easy way to attract retail trading, as the idea is that it takes a lot less of a move to make big profits. That’s not necessarily true because it’s all percentages in the end. Still, the idea of Shiba Inu ownership offering untold riches by simply going to $0.01 can’t get the attention of many “social media traders.” A lot of them liked to brag about their SHIB holding, as it usually had large numbers attached to it. Shiba Inu holders are a different breed. 

Because of this, there are many holders of Shiba Inu, with over 1.2 million wallets holding the coin as of late 2022. However, it would be best if you also remembered that some of these wallets will always own Shiba Inu, as it was thought of as a lottery ticket. Therefore one would have to wonder how many people have forgotten about their $100 investment that lost so much. 

Simply put, being a SHIB holder was an attempt to get rich, and some people did make much money. However, most retail traders have found themselves “holding the bag” as crypto fell. When a market asset falls, the most speculative ones get especially punished, and Shiba ownership most certainly falls in that category. Unfortunately, some of those who lost the most Shiba Inu during the craze were those who could not afford to lose it.  Keep in mind that the holders of Shiba Inu tend to hang onto the coin simply because it is very cheap, and it’s not quite like holding a $16,000 Bitcoin that you’ve lost money on and can still extract value from. Shiba Inu is more or less going to be an “all or nothing” type of market.

Shiba Inu Holders: Who Owns the Highest Number of Shiba Inu Coins?

Shiba Inu holders make up a vast group. Most Shiba Inu holders were people looking to get rich, and therefore, most wallets have very little in the way of actual value. While they may hold 2 million tokens, it was simply a marketing scheme to have people “feel rich.” Determining who owns the Shiba Inu coin is difficult, as it is a large group but typically younger investors. 

When looking at the top holders, you need to be aware of a couple of nuances. For example, not all Shiba Inu holders hold the coin as a speculative investment. Ethereum co-founder Vitalik Buterin was gifted 50% of the total supply by Shiba Inu’s foundation, driving up hype online because of the sudden accumulation of Shiba Inu by such a famous person. He eventually burned 90% of the tokens and donated 10% to an Indian Covid relief fund. Because of this, the largest holder of Shiba Inu is a dead wallet containing the contents of his Shiba Inu burn. The wallet holds 41% of the SHIB supply and has been topped up by further burns. 

The 2nd largest holder belongs to an anonymous investor who holds 48 trillion SHIB, or 8% of the total circulation. It’s worth about $500 million but was worth much more previously as the price of Shiba Inu collapsed. One has to wonder what, if anything, they ever plan on doing with their SHIB holding. From all accounts, this person owns Shiba Inu coins for the long term. 

Another primary holder of SHIB is Binance. Binance is the 3rd largest holder in the world, so you must remember that it’s an exchange. Therefore, it’s likely that it is being used for liquidity. As you can see, not all whale wallets will be as influential as you may believe. The reality that the largest whale wallet is a burn pile says a lot.  

Conclusion

It is difficult to determine who owns the most Shiba Inu, as the ownership of cryptocurrency is not publicly disclosed. Shiba Inu is a decentralized cryptocurrency that is not controlled by any central authority or organization, so it is not possible to track ownership in the same way as traditional assets.

Shiba Inu is an alternative cryptocurrency that was launched in 2021 and is based on the Ethereum blockchain. It is designed to be a decentralized and community-driven project, and anyone can participate by buying and holding Shiba Inu coins. The value of Shiba Inu is determined by supply and demand on cryptocurrency exchanges, and it is possible for anyone to buy or sell the coins on these exchanges.

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