Largest SHIB Holder Ever Revealed – Hold Tight

by

As an experienced financial analyst, I find the recent revelation of the largest SHIB holders by Arkham Intelligence intriguing. The fact that the burn SHIB address holds a significant portion of the entire Shiba Inu supply, around 41%, is noteworthy. However, it’s important to remember that this address is designed for burning SHIB coins, which ultimately reduces the circulating supply and increases their value.

An Arkham Intelligence study reveals the current top 10 entities holding SHIB tokens, as well as the identity of the entity ranked first.

Meanwhile, cryptocurrency whales have transferred billions of SHIB between exchanges.

Largest SHIB holder on market revealed

According to Arkham Intelligence’s latest report, the burn SHIB address occupies the first position among the largest SHIB holders, with a staggering amount of 410 trillion SHIB, valued over $10 billion. This substantial holding represents approximately 41% of the entire Shiba Inu coin supply.

Crypto.com, a prominent centralized cryptocurrency exchange, ranks second with approximately $968.56 billion in assets, representing around 3.76% of the total, which is equal to 37,570,344,005,265.1 units. A notable portion of these funds are stored in hot wallets – digital addresses linked to the internet – increasing their susceptibility to potential security breaches.

As a researcher studying the distribution of Shiba Inu (SHIB) tokens, I’ve discovered that Binance‘s cold wallet ranks third on my list, with a holding of approximately 3.5% of the total circulating supply – equating to around 35,000,000,000,000 SHIB or roughly $902,300,000 worth. Following closely behind is the cold wallet of Robinhood’s trading app, with a stash containing about 31.75% of the circulating SHIB – translating to approximately 31,753,251,930,362.97 Shiba Inu or $818,600,000 in value.

The Shib team’s wallet ranks 10th on this list, holding approximately 6 quintillion SHIB meme coins valued at around $164.9 million.

Whales transfer billions of SHIB

Based on the given report, approximately 17 billion Shiba Inu coins have been transferred between major crypto investors in the last few hours.

The majority of the transactions involved transferring huge quantities of SHIB from Kraken to OKX, with withdrawals and deposits amounting to billions in total.

Upcoming Shibarium hard fork announced

The Shiba Inu X team’s tweet from earlier today hinted at an upcoming “major network update” scheduled for May 2nd. Unlike typical hard forks which give birth to a completely new blockchain and coin, this appears to be just an enhancement of the existing system.

As a researcher studying the Shibarium layer-2 blockchain, I came across an intriguing X/Twitter post. This update, once implemented, promises to enhance the block production process on our network, resulting in faster transaction confirmation times. Moreover, the post suggests that the new upgrade will bring more stability and predictability to transaction fees.

Despite the fact that much has been discussed, no information has been shared regarding the automated burn mechanism that was trial-run on the test network Puppynet as early as January.

Manually carried out primarily by the SHIB community, Shib burns continue as the development team intermittently participates when sufficient BONE is amassed from Shibarium transaction fees.

As a researcher, I’ve analyzed the data over the last 24 hours and found that the burn rate has been running at a deficit, dipping into negative territory by 88.96%. Approximately 4,422,643 SHIB tokens have been removed from the circulating supply during this period.

Read More

2024-04-26 16:50