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51% of SHIB’s offer is stored in the token burn wallet

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Redistributing small altcoins has always been a hot topic, especially when most offers belong to a single user. A similar discussion began after Twitter users noticed that 72% of SHIB was stored in 10 wallets, with one holding 51% of the total.

The history of the wallet, which currently holds 410 trillion SHIB tokens, is simple: it is a “burn wallet” address created to remove part of the supply from circulation.

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No one can get into the burn wallet, so there is no way to use the funds sent there. The largest transaction with the wallet was carried out by Vitalik Buterin, to whom the development team transferred a large number of SHIB tokens. Some of the tokens were donated to a charity in India, others were burned, allowing the network to remain more stable and decentralized.

While 51% control the address, the remaining 21% are also not owned by retail investors. 5th and 6th place in this list of the largest addresses are occupied by stock exchanges. Binance Wallet (8th place) currently holds 37 trillion Shiba Inu tokens, and Crуpto.com Wallet holds 25 trillion tokens and has received another 29 billion SHIBs in the last 24 hours.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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