Shiba Inu (SHIB) is a leading meme-based cryptocurrency, originally dubbed the "Dogecoin killer" by its anonymous creator. Despite its 2021 peak, SHIB has faced bearish trends in 2022 amid a broader crypto market downturn.
This article explores SHIB’s supply dynamics, ownership concentration, and their impact on price.
What Is Shiba Inu (SHIB)?
Launched in August 2020, SHIB evolved from a meme coin into a decentralized ecosystem featuring:
- ShibaSwap: A decentralized exchange (DEX).
- Shiboshi NFTs: Non-fungible tokens tied to the project.
- Governance tokens: BONE and LEASH.
Unlike Dogecoin (DOGE), SHIB operates on the Ethereum blockchain as an ERC-20 token. Developers are also building Shibarium, a Layer 2 network to enhance scalability and reduce transaction fees.
SHIB Tokenomics: Supply and Burns
Initially, SHIB had a 1 quadrillion token supply:
- 50% sent to Ethereum creator Vitalik Buterin’s wallet.
- 50% locked in Uniswap for liquidity.
In 2021, Buterin burned 410 trillion SHIB (90% of his holdings) and donated 50 trillion to India’s Covid relief fund. This reduced the circulating supply to ~550 trillion.
👉 Discover how token burns affect SHIB’s value
Current Circulating Supply
As of July 2022:
- Total supply: 589.63 trillion SHIB.
- Staked tokens: 31.56 trillion.
- Circulating supply: 558.01 trillion.
The Shibburn portal tracks burns, reporting 410.37 trillion SHIB permanently removed from supply.
Who Owns the Most SHIB?
- Top 100 holders control 31% of the supply.
- The largest wallet holds 48.7 trillion SHIB (4.87% of initial supply).
- Ethereum "whales" dominate SHIB holdings, with an average of $5M per wallet.
FAQs
1. How many SHIB coins exist today?
Approximately 589.63 trillion, with 558.01 trillion circulating.
2. Why did Vitalik Buterin burn SHIB?
To avoid centralized control and support charitable causes.
3. What is Shibarium?
A Layer 2 network to improve SHIB’s transaction efficiency.
4. How does burning SHIB affect its price?
Reducing supply can increase scarcity, potentially boosting value.
👉 Learn more about SHIB’s future roadmap
Key Takeaways
- SHIB’s supply is dynamic, influenced by burns and staking.
- Whale ownership impacts market liquidity.
- Layer 2 development (Shibarium) could enhance utility.
Always research before investing. Cryptocurrencies are volatile—never risk more than you can afford to lose.
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