Shiba Inu Ownership Soars: Over 1.3 Million Addresses Hold $5.6 Billion Worth of Tokens

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In a remarkable surge of popularity, the number of addresses containing Shiba Inu has reached an astounding 1,366,964, according to recent Etherscan data. This milestone positions Shiba Inu as one of the top 17 most valuable cryptocurrencies, boasting a market capitalization exceeding $5.6 billion. The sheer scale of Shiba Inu’s decentralized ownership now surpasses the populations of 105 U.S. cities, including notable urban centres such as Jacksonville, Nashville, Salt Lake City, Providence, Memphis, Richmond, and Louisville.

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Within the expansive Shiba Inu community, these addresses collectively hold an impressive 999.98 trillion SHIB tokens. However, a notable portion, almost 50% of this total, is situated in a dead wallet, primarily the null Shiba Inu address, containing over 410.29 trillion SHIB tokens, constituting 41% of the total holders’ chart.

The remaining half of the tokens are distributed across various accounts, including those owned by centralized exchanges like Binance, Robinhood, OKX, Coinspot, Kraken, Gate.io, and KuCoin, along with wallets associated with prominent individuals and smart contracts.

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It’s crucial to note that the 1,366,964 Shiba Inu addresses may not precisely represent the count of unique individuals holding SHIB due to factors such as multiple addresses per individual and the aggregation of holdings within a single address on behalf of multiple investors, especially in the context of centralized entities.

A deeper analysis by IntoTheBlock reveals that 62% of the 1.366 million SHIB-holding wallets currently hold the asset at a loss, while only 22% are in a profitable position. Furthermore, 15% of all addresses neither incur losses nor hold a profit. Intriguingly, IntoTheBlock’s data indicates that a significant 76% of these wallets have been holding SHIB for over a year, highlighting a substantial level of long-term commitment within the Shiba Inu community.

As Shiba Inu continues to capture the attention of global investors and blockchain enthusiasts, its decentralized ownership model and the scale of its community underscore the cryptocurrency’s enduring appeal in the ever-evolving landscape of digital assets.

 


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Michael Onche: Crypto aficionado and seasoned analyst. With a keen eye for market trends and a passion for blockchain technology, he deciphers the intricacies of cryptocurrency with precision. Michael's expertise and insightful content make him a trusted guide for navigating the dynamic world of digital assets.
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