What Crypto Whales Just Did With Shiba Inu And Why We Must Pay Attention

What Crypto Whales Just Did With Shiba Inu And Why We Must Pay Attention

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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 410,241,996,771,000 and 871 Shib by sending it to a dead address, effectively removing 41% of the entire Shib circulation. This was worth over $7.3 billion on the day of the transaction. In a note, Buterin said:
I’ve decided to burn 90 percent of the remaining Shiba tokens in my wallet. The remaining 10 percent will be sent to a (not yet decided) charity with similar values to crypto relief (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.
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.

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