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Shiba Inu: Who Owns The Highest Number of SHIB Coins?

Vignesh Karunanidhi
Vignesh Karunanidhi
December 28, 2023
With Shiba Inu (SHIB) recently erasing one zero from its price, a top market analyst has uncovered the key target and support levels to watch out for going forward. Shiba Inu price erased one zero to trade at a 24-hour high of $0.00001462. Though the token had shown signs of an imminent rally for weeks, the current market momentum pushed its price to the highest level in more than 52 weeks. Judging by the current outlook, market analyst SHIB KNIGHT affirmed that Shiba Inu has surpassed all of his previous targets. To showcase the confidence in the current uptrend, SHIB KNIGHT dropped new targets and support levels to watch. Shiba Inu to $0.00001668? Per an accompanying price chart, the 3 targets and support levels unveiled are relatively bullish, as none of the latter targets shows a slump below the $0.00001 level. According to $SHIB KNIGHT, the current momentum might push Shiba Inu to $0.00001466, a price point that will slightly outpace the 52-week high. On a more promising basis, the analyst foresees SHIB soaring to $0.00001545, a level that is about 9.886% from the current level. SHIB KNIGHT is also optimistic Shiba Inu could rally as high as $0.00001668 and even beyond, per earlier projections. Though the potential timeline to achieve this feat was not highlighted, the projections have set the community on edge with pent-up anticipation of what to watch out for. Cautionary SHIB Note Amid the bullish targets, SHIB KNIGHT left room for unforeseen circumstances that might trigger a reversal in Shiba Inu’s uptrend. At the time of writing, Shiba Inu has maintained a 24-hour growth of 13.06%, taking its price and market cap to $0.00001409 and $8,285,705,642 respectively. Exactly $2,271,151,442 SHIB has been traded within the same time span. There are no guarantees that the market would not record a correction. Riding on this, SHIB KNIGHT pegged the first support level at $0.00001343 with a subsequent target of $0.00001306 if the selloffs persist. To cap his bullish disposition, the analyst believes the support zone at $0.00001258 is a formidable one for SHIB, a point at which another trend reversal might be recorded.

When it comes to Shiba Inu token holdings, Ethereum founder Vitalik Buterin stands in a league of his own. Thanks to a generous token gift from SHIB creator Ryoshi, Buterin holds over 500 trillion tokens—half the total supply—in a “dead wallet” he controls. This dwarfs even the largest individual SHIB investors.

According to reports, Ryoshi gifted 50% of the total minted SHIB supply to Buterin shortly after the token’s creation.

In May 2021, Buterin removed the vast majority of these tokens from circulation by sending 410 trillion SHIB to a dead address in a massive burn event. He also donated 10 trillion SHIB to an Indian COVID relief fund that month.

Also read: Three Signs That Point to Possible Shiba Inu Price Surge

As these hundreds of trillions of tokens can never re-enter circulation or be accessed by anyone, Buterin’s dead wallet remains the undisputed top SHIB holder by a massive margin. According to the details from Coincarp, the dead wallet holds 41% of the SHIB supply.

Who’s Behind the Second-Largest Shiba Inu Wallet?

With Buterin’s billions effectively eliminated from the circulating supply, the next biggest SHIB holder(s) owns a relatively paltry 42 trillion tokens. The owner of the second-largest wallet remains anonymous. Some speculate it belongs to a private investor or group of investors involved with SHIB early on.

Buterin’s massive SHIB burn event, along with the India donation, heavily shaped the meme token’s circulating supply and price history over the past two years.

Also read: Solana New Year Price Prediction: How High Can SOL Go?

By instantly removing over 400 trillion tokens in May 2021, he created exceptional scarcity for SHIB’s remaining investors. This likely contributed greatly to the retail frenzy that catapulted SHIB’s price upwards of 8,600% later that year. According to the details from CoinMarketCap, SHIB is trading at $0.00001061 at press time.

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