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Shiba Inu (SHIB) originated as an experiment in 2020, created by an anonymous person or group using the pseudonym Ryoshi, similar to the pseudonymity with which Bitcoin (BTC) was created.
The memecoin had managed to gain popularity thanks to its mascot – the Shiba Inu dog from the popular Doge meme, similar to Dogecoin (DOGE).
If you are thinking of holding SHIB or are one of the many Shiba Inu owners, it is important to know who the biggest SHIB holders are. Tracking the activities of crypto whales of a token helps understand how susceptible to large trades a crypto coin is.
As the popularity of meme coins rises again, this article looks at who has the most Shiba Inu in 2024.
Key Takeaways
The Top 10 Biggest SHIB Holders
Who owns the most SHIBA Inu coins? Let’s explore the SHIBA Inu whales list:
| Rank | Address | Quantity | Percentage | USD Value |
| 1 | 0xdead000000000000000042069420694206942069 | 410,425,741,793,864 | 41.04 | $10,002,075,328 |
| 2 | 0x40b38765696e3d5d8d9d834d8aad4bb6e418e489 | 42,953,245,785,282 | 4.3 | $1,046,770,600 |
| 3 | 0xf977814e90da44bfa03b6295a0616a897441acec (Binance) | 41,920,620,115,806 | 4.19 | $1,021,605,512 |
| 4 | 0x02e2201576fbbefb52812f2ee7f08eb4774b481e | 39,601,295,637,555 | 3.96 | $965,083,575 |
| 5 | 0xf3b0073e3a7f747c7a38b36b805247b222c302a3 | 34,673,478,208,562 | 3.47 | $844,992,664 |
| 6 | 0x5a52e96bacdabb82fd05763e25335261b270efcb (Binance) | 13,687,689,921,897 | 1.37 | $333,569,003 |
| 7 | 0x6cc5f688a315f3dc28a7781717a9a798a59fda7b (OKX) | 10,158,557,332,062 | 1.02 | $247,564,042 |
| 8 | 0x47ac0fb4f2d84898e4d9e7b4dab3c24507a6d503 (Binance) | 8,550,000,000,000 | 0.86 | $208,363,500 |
| 9 | 0x422193843fe209faa94f5cc1780e04965e77cb7f | 7,301,614,520,660 | 0.73 | $177,940,346 |
| 10 | 0xcffad3200574698b78f32232aa9d63eabd290703 (Crypto.com Exchange) | 6,010,538,906,708 | 0.6 | $146,476,833 |
Who owns Shiba Inu? Our Shiba Inu coin holders list is accurate as of November 21, 2024.
0xdead000000000000000042069420694206942069 is believed to be a “burn” wallet, with the tokens inaccessible. CoinCarp calls the account a “null account”, where all tokens have been burned and removed from circulation.
Considering the fact that at the time of SHIB’s launch, the developers had donated 50% of the total supply to Vitalik Buterin, the creator of –Ethereum (ETH), who had donated over 50 trillion tokens and then burned 90% of his remaining holdings, this account is speculated to have been owned by him.
Many of the top holders of Shiba Inu include top cryptocurrency exchanges, including Binance, Robinhood, and OKX. Effectively these wallets are holding SHIB on behalf of centralized exchange users.
Understanding Who Owns the Most SHIB is Important
Due to their significant token holding, identifying who owns the most SHIB could be crucial to understanding how much influence such whales could yield over the cryptocurrency industry.
In addition, understanding who the biggest SHIB holders are could help investors comprehend the distribution and concentration of ownership within the cryptocurrency, Ryan Lee, the chief analyst from Bitget Research, said.
“Identifying these major holders provides investors with insights into potential market manipulation or influence that could affect the token’s price and stability. Investors often track whale activities to guide their investment decisions.”
“If a whale is accumulating or divesting, it may signal a change in market sentiment. For businesses and analysts, understanding whale behavior can offer strategic insights into market trends and investor behavior in the cryptocurrency space,” he added.
Moreover, because SHIB whales have the potential to manipulate the market, this raises a number of ethical concerns, which in turn could challenge the notion of cryptocurrencies as a decentralized financial system.
Akash Mahendra, head of developer relations at Haven1, explained:
“Whales’ influence on price volatility challenges the notion of cryptocurrency as a democratized financial system and the disproportionate power of whales questions the legitimacy of SHIB as a decentralized currency.”
SHIB was created to have a total supply of one quadrillion coins; however, due to its significantly low price, investors can hold millions or even trillions of SHIB tokens, making the emergence of Shiba Inu millionaires or even billionaires a much easier task.
However, in April 2022, SHIB creators launched a coin-burning portal in order to decrease the cryptocurrency’s circulating supply and thus help boost its price a little.
How many Shiba Inu coins are there? As of November 2024, the total circulating supply of SHIB surpasses 589 billion coins, according to data published on CoinmarketCap.
The top 10 SHIB holders own over 61% of the token’s total circulating supply, meanwhile the top 100 over 75%, as of November 2024.
According to data published on Etherscan, the top 100 SHIB holders collectively own 79.09% of the token’s total circulating supply.
CoinCarp gives similar data, noting that the number of Shiba Inu holders surpasses 1.43 million individual wallet holders.
Losing Major SHIB Owners: Buterin Burning His Holdings
Buterin’s decision to burn most of his SHIB holdings significantly affected the cryptocurrency’s overall ownership, Bitget Research’s Lee told Techopedia.
“By destroying a large portion of his holdings, Buterin has effectively reduced the supply of SHIB tokens in circulation. This action has a deflationary effect, potentially driving up the value of the remaining tokens.”
However, at the same time, Lee noted that such a move could have been seen as a move towards greater decentralization, a core principle in the cryptocurrency industry.
“Prominent figures like Buterin burning a substantial amount of tokens might be seen as a gesture indicating confidence in the cryptocurrency’s long-term viability. This action could also provide reassurance to investors, indicating that a sudden disruption to market stability through a massive sell-off of a large holding is less probable.”
On the other hand, Haven1’s Mahendra noted that Buterin’s action had displayed immense control as it had the power to influence the market and ownership structure.
He added: “Buterin’s burn raises questions about market manipulation under the guise of altruism and challenges the idea of true decentralization in cryptocurrencies. Buterin’s preference for charities over being a crypto powerhouse points to a complex interplay between wealth, power, and philanthropy in the crypto world.”
SHIB Ownership Influenced by Speculation
Due to its nature as a meme cryptocurrency, SHIB’s ownership is influenced by the speculative nature inherent in meme cryptocurrencies, Bitget Research’s Lee noted.
“As a meme cryptocurrency, SHIB’s ownership dynamics can be influenced by the speculative nature inherent in meme investments. The meme nature of SHIB frequently draws in retail investors seeking rapid gains, causing ownership fluctuations as individuals buy and sell based on hype and trends.”
In addition, Lee added that the meme nature of SHIB frequently draws in retail investors seeking rapid gains, causing ownership fluctuations as individuals buy and sell based on hype and trends.
“This behavior often leads to swift changes in ownership concentration as speculative traders enter and exit the market. Such speculative essence of meme cryptocurrencies can introduce volatility and unpredictability, emphasizing investors’ importance in closely monitoring SHIB’s ownership dynamics. This volatility often leads holders to prefer holding smaller quantities in hopes of high returns.”
SHIB Holders: Celebrity Accumulation
When celebrities express interest in cryptocurrencies, their actions can influence market sentiment and the popularity of the specific tokens.
Bitget Research’s Lee noted:
“When celebrities publicly show interest in SHIB by accumulating the token, it can attract attention and interest from their fan bases and the broader public.”
With major celebrities like Elon Musk, the owner of X (formerly Twitter), endorsing DOGE, for example, SHIB’s price and ownership can also be influenced by that because the two tokens often move in unison, thanks to the fact they both sport the Doge meme as their mascot.
The Bottom Line
Haven1’s Mahendra noted that the high concentration of SHIB ownership hints at potential market collusion and suggests a ticking time bomb for market stability.
On the other hand, Bitget Research’s Lee highlighted that the distribution of SHIB holdings is relatively dispersed, with a significant portion of tokens being burned and the remaining distributed evenly across various exchanges.
SHIB rose around 300% over 2024, but top SHIB holders remain a significant influence over where the future price of the cryptocurrency could be headed, which is why transparency about knowing who they are is essential to future investors.
It’s essential to conduct in-depth research and invest solely within your financial comfort zone, acknowledging the possibility of total loss. This investment is high-risk, and you should be prepared for the absence of safeguards in adverse scenarios. Take 2 mins to learn more.
FAQs
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References
- Bitget Research (Bitget)
- Haven1 Official Website (Haven1)
- Shib’s tweet (X.com)
- Shiba Inu price today, SHIB to USD live price, marketcap and chart (CoinMarketCap)
- SHIBA INU Token Holders (Etherscan)
- Top 100 Shiba Inu Rich Address List (CoinCarp)
