Is Coinbase the Largest Holder of Shiba Inu (SHIB)? Find out!

• Ethereum co-founder Vitalik Buterin was given half of the entire supply of Shiba Inu.
• As of late 2022, SHIB was held in over 1.2 million wallets.

According to statistics compiled by Etherscan.io, three unidentified wallets have moved a total of 6,087,952,185,063 (6.08T) SHIB, valued at $65,445,484 ($65.44M), to a wallet affiliated with Coinbase and labelled “Coinbase 10” recently.

The first wallet sent Coinbase 10 a whopping 1.92T SHIB, valued at $20.64M. The second wallet followed suit and sent 2.24T SHIB, then valued at $24,159,068 ($24.15M). The string of big transactions was completed when a third wallet sent $20.64M (or 1.92T SHIB) to Coinbase 10.

Held in Over 1.2 Million Wallets

The motivations behind these transfers are unclear, and the names of those responsible for the wallets are concealed. Nevertheless, the canine-themed cryptocurrency Shiba Inu has seen a huge price decline and is now trading at $0.00001071, a decrease of 2% in the last 24 hours.

As Coinbase has received so much SHIB, the question arises as to whether or not it is the biggest holder of SHIB. To put it simply, the answer is not yes. Shiba Inu has numerous devotees; as of late 2022, it was held in over 1.2 million wallets.

There are a few subtleties to keep in mind while surveying the top holders. There was a lot of buzz online since Ethereum co-founder Vitalik Buterin was given half of the entire supply of Shiba Inu by the foundation.

He finally gave 10% of the tokens to an Indian Covid relief fund and burned the other 90%. This means that the biggest Shiba Inu bearer is a burnt wallet full of SHIB. The wallet now has 41% of the total SHIB supply, which was obtained via more burns. An unnamed investor has 48 trillion SHIB, or 8% of the entire supply as of the start of the year, making it the second biggest holding.