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Trillions of Shiba Inu (SHIB) Left Whales' Bags on Shibarium Release Day

Sun, 03/12/2023 - 13:59
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Gamza Khanzadaev
Detailed insight into how different groups of SHIB investors managed their holdings amid Shibarium testnet release
Trillions of Shiba Inu (SHIB) Left Whales' Bags on Shibarium Release Day
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According to IntoTheBlock, the number of Shiba Inu tokens held by whales dropped by 10 trillion on March 11, the day the long-awaited public beta of Shibarium, PuppyNet, was released. At the moment, the largest holders of the token are said to hold 250.66 trillion SHIB, not including the dead address needed for burning. The largest token holders, 14 of them, now reportedly hold 250.66 trillion SHIB, which is 25.5% of the initial offering and 45.57% of the current amount, excluding the burn address.

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However, it is not as simple as that when, at the same time, the bags of slightly smaller but still big investors have been filled by the same figure. This category, according to IntoTheBlock, includes 40 addresses that now hold 12.36%, equivalent to 121.52 trillion SHIB. Interestingly, these investors started Monday with a balance sheet value of 123.16 trillion SHIB, then they emptied some in the middle of the week, and on March 11 they bought back 10 trillion Shiba Inu tokens.

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Ordinary crypto enthusiasts, commonly referred to as retail investors, welcomed the beta release of Shibarium with fewer Shiba Inu tokens than the day before, specifically 230 billion fewer. As of now, this is the second largest group of SHIB holders with a combined balance of 200.7 trillion tokens.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.