New data from Santiment has revealed that the top 10 Shiba Inu (SHIB) addresses control over 62% of the entire token supply. The crypto analytics platform shared the update on Tuesday, posting percentages of supply held by the top blockchain wallets of popular Ethereum-based tokens on X.
Santiment Data Reveals Top 10 Wallets Hold Over 62% Of Shiba Inu Supply
According to the Santiment report, the concentration of Shiba Inu supply in the hands of the top 10 wallets is striking. According to the data, out of Shiba Inu’s original one quadrillion tokens, 62.3% are now controlled by only ten addresses. This figure amounts to around 623 trillion SHIB tokens.
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Public blockchain data available on Etherscan offers an even closer look at these leading Shiba Inu addresses, giving more detailed information about the wallets and the amounts of SHIB they currently hold.
The biggest wallet in this group is the official Shiba Inu burn address created when Ethereum co-founder Vitalik Buterin sent over 410 trillion SHIB to the address in 2021. This address contains 410.43 trillion SHIB, making it the largest single holder in the ecosystem. Tokens in this wallet are considered permanently removed from circulation.
Another primary address also holds a large amount of SHIB. This wallet contains about 53.37 trillion tokens, equal to 5.33% of the total supply. The wallet may be associated with a decentralized exchange or a smart contract.
These two top wallets together already make up a large part of the Shiba Inu supply, while a mix of exchanges and other entities fills the rest of the list.
Exchanges Dominate The Biggest Shiba Inu Holdings
The data also shows that several of the largest wallets belong to major centralized exchanges. Robinhood appears on the list as one of the most oversized holders. The wallet linked to Robinhood currently holds 39.27 trillion SHIB, which represents 3.92% of the total supply.
Binance is also a leading holder of Shiba Inu. The address labeled Binance Hot Wallet 20 contains 30.71 trillion tokens, or 3.07% of the total supply. Another address, Binance 28, holds 19.51 trillion SHIB, equal to 1.95%.
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Crypto.com is another exchange with a large wallet among the top 10. The wallet connected to Crypto.com holds 29.83 trillion SHIB. This number represents 2.98% of the supply.
Other large wallets on the list include one address with 12.04 trillion SHIB, which makes up 1.2% of the total. Another holds 11.41 trillion tokens, equal to 1.14% of the supply. A separate wallet contains 9.04 trillion SHIB, or 0.9%.
Finally, the tenth-largest Shiba Inu holder controls approximately 7.65 trillion tokens, which equates to 0.76% of the total supply. The wallet may also be related to a decentralized exchange.
Featured image from DALL.E, chart from TradingView.com