39.27 Trillion SHIB on Robinhood, So Who Holds More?

Brokerage platform Robinhood remains atop Shiba Inu’s holder list with more than 39.27 trillion $SHIB currently held in a wallet related to the trading platform.

According to Etherscan data, 39,273,242,865,360.9000 $SHIB currently sits in a Robinhood-named wallet, or 3.9274% of Shiba Inu’s supply, currently worth $161,805,760.61.

While this figure seems significant, Robinhood isn’t the biggest holder of $SHIB. Another wallet contains a far larger $SHIB balance, accounting for 41.0441% of its supply.

Shiba Inu’s burn address surprisingly holds the largest amount of $SHIB, with Etherscan giving this quantity as 410,433,377,893,806 $SHIB worth $1,695,089,850. A burn address is a wallet address with no known private key and is neither owned by nor accessible to anyone. Tokens in the burn address can’t be used or retrieved, effectively reducing supply.

Contributing to the burn address total is Ethereum creator Vitalik Buterin’s massive $SHIB burn in May 2021. Buterin sent a trove of more than 410 trillion tokens to Shiba Inu’s dead wallet address, taking them out of circulation. This was worth $6.7 billion at the time. Shiba Inu continues its deflationary momentum, with 3.43 million $SHIB burned in the last 24 hours.

The remaining 58.06% of the supply is shared mostly among exchanges, which hold larger amounts on behalf of holders, and individual wallets, with whales making up 0.04% of holders.

$SHIB news

In a fresh positive development for Shiba Inu, T. Rowe Price has launched what it says is the industry’s first actively managed multi-token spot crypto exchange-traded fund (ETF) on the market.

The T. Rowe Price Active Crypto ETF (TKNZ) began trading on Thursday, giving investors exposure to a portfolio of crypto assets including Shiba Inu.

At the time of writing, Shiba Inu was down 0.71% in the last 24 hours to $0.00000413 as a selloff in Asian semiconductor shares dragged every major cryptocurrency lower. The broader crypto market is currently consolidating as onchain metrics have yet to confirm a reversal, and the Fear and Greed Index stands at 31, remaining in fear territory.