Shiba Inu (SHIB) has evolved from a lighthearted meme-inspired cryptocurrency into one of the most widely recognized digital assets in the crypto space. Originally launched in August 2020 as a playful “Dogecoin killer,” SHIB quickly captured the attention of retail investors and meme coin enthusiasts alike. While it began as a community-driven joke, its ecosystem has matured significantly, now featuring decentralized finance (DeFi) components, NFTs, and utility tokens.
This article explores the current circulating supply of Shiba Inu, the mechanics behind its deflationary model, and which wallets hold the largest portions of the token. We’ll also examine whether participating in SHIB burns is a worthwhile strategy for long-term holders.
Understanding Shiba Inu’s Total Supply and Circulating Supply
When Shiba Inu was first introduced, the total supply was set at an eye-popping 1 quadrillion ($10^{15}$) SHIB tokens. This massive number was partly a nod to inflationary meme culture but also served to enable microtransactions and broad distribution.
However, a significant portion of that initial supply was permanently removed from circulation early on. In a pivotal moment just six months after launch, Shiba Inu’s anonymous creator sent 500 trillion SHIB — exactly half the total supply — to Vitalik Buterin, co-founder of Ethereum.
To the surprise of many, Buterin chose to burn 90% of those tokens (450 trillion SHIB), effectively eliminating them from existence. The remaining 10% were donated to charitable causes, including India’s COVID-19 relief efforts. This single act reduced the circulating supply by 45% and marked the beginning of SHIB’s deflationary journey.
👉 Discover how token burns can impact long-term investment value.
Despite this dramatic burn, Shiba Inu does not have a hard-capped maximum supply, meaning new tokens could theoretically be minted. However, the project has taken steps to counter inflationary pressure through community-driven deflation mechanisms.
The SHIB Burn Mechanism: Is It Truly Deflationary?
While Shiba Inu is often described as deflationary, this characterization comes with an important caveat: the deflation is not automatic or protocol-enforced. Instead, it relies entirely on voluntary participation from holders.
To support sustainable tokenomics, the Shiba Inu development team launched SHIBABURN in April 2022 — a dedicated portal allowing users to voluntarily burn their SHIB tokens. In return, participants receive $burntSHIB, a unique reward token that entitles holders to passive income.
Here’s how it works:
- Every time a transaction occurs with RYOSHI, another token within the ecosystem, 0.49% of that transaction fee is distributed to $burntSHIB holders.
- This creates a reflection-style reward system, incentivizing users to remove SHIB from circulation while earning ongoing yields.
The success of this model depends heavily on continued community engagement. If burning activity slows, so too will the deflationary effect and associated rewards.
Is Burning SHIB Worth It?
For long-term investors, burning SHIB can be a strategic move — especially if you believe in the continued growth of the Shiba ecosystem. As fewer tokens remain in circulation, each individual SHIB could become more valuable, assuming demand remains stable or increases.
However, short-term investors may find limited appeal:
- The annual percentage return (APR) from RYOSHI rewards is relatively modest.
- Trading volume for RYOSHI remains low, which limits the size of potential payouts.
- There’s no guarantee that the burn program will maintain momentum over time.
Data from blockchain analytics platform IntoTheBlock shows that addresses holding SHIB for over a year have increased their balances by approximately 57%, suggesting strong conviction among long-term holders. This trend supports the idea that many investors are adopting a "hold and burn" strategy rather than seeking quick profits.
How Many Shiba Inu Holders Are There?
Community size is a key indicator of any cryptocurrency’s health and potential for growth. For Shiba Inu, adoption has been impressive.
As of early 2025, there are over 1.3 million unique wallet addresses holding SHIB, according to CoinCarp. This represents substantial growth since the coin’s all-time high in late 2021, when it first crossed the 1 million holder threshold.
Notably, the network continues to expand at a steady pace — adding roughly 1,000 new holders per month. This consistent influx suggests enduring interest in the asset, even during broader market downturns.
A large and active holder base strengthens network resilience and increases liquidity, both of which are positive signs for future price stability and ecosystem development.
Who Owns the Most Shiba Inu?
When analyzing ownership distribution, it's essential to distinguish between active wallets and burned or inactive addresses.
The single largest address once held over 410 trillion SHIB — representing 41% of the original supply. However, this wallet is now considered dead because it was used by Vitalik Buterin to burn his allocated portion. These tokens are irretrievable and permanently out of circulation.
Among active wallets, Binance, one of the world’s largest cryptocurrency exchanges, holds the most SHIB — nearly 47 trillion tokens, or about 4.8% of the current supply. The next four largest wallets also belong to major exchanges like Huobi and OKX, indicating that a significant portion of SHIB liquidity is centralized on trading platforms.
The first non-exchange wallet appears at sixth place, holding around 10 trillion SHIB (approximately 1% of total supply). This suggests that while institutional and exchange holdings dominate, there are still ultra-high-net-worth individuals (often called “whales”) with substantial personal stakes in the project.
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Frequently Asked Questions (FAQ)
Is Shiba Inu’s supply unlimited?
Yes, Shiba Inu does not have a hard cap on its total supply. While the initial supply was 1 quadrillion SHIB, there is no built-in limit preventing future minting. However, deflationary mechanisms like voluntary burns aim to reduce net circulation over time.
Can Shiba Inu reach $1?
Given its current supply (even post-burn), for SHIB to reach $1 per token, its market capitalization would need to exceed **$500 trillion** — far greater than the entire global money supply. This makes it economically impossible under any realistic scenario.
What is the purpose of $burntSHIB?
$burntSHIB is a reward token issued to users who voluntarily burn their SHIB through the SHIBABURN portal. It allows holders to earn passive income via transaction fees from RYOSHI trades, creating an incentive to reduce overall SHIB supply.
Are SHIB burns helping the price?
Burns can positively influence price over time by reducing supply and signaling community confidence. However, their impact depends on sustained participation and rising demand. Burns alone are not enough to drive price without broader adoption.
Who controls Shiba Inu?
Shiba Inu was created by an anonymous developer known as “Ryoshi.” The project operates as a decentralized community-driven initiative with no central authority. Development and governance are managed collectively by contributors and stakeholders.
Is Shiba Inu a good long-term investment?
SHIB may offer value as part of a diversified crypto portfolio, particularly for those bullish on meme coins and DeFi innovation. However, due to its volatility and speculative nature, it should be approached with caution and thorough research.
Final Thoughts
Shiba Inu has come a long way from its origins as a viral meme coin. With over 1.3 million holders, a growing ecosystem including ShibaSwap and NFTs like Shiboshi, and innovative tokenomics like SHIBABURN, it continues to evolve beyond pure speculation.
While its unlimited supply raises sustainability concerns, the community’s commitment to burning provides a counterbalance. For investors willing to take a long-term view, holding — or even burning — SHIB could yield meaningful benefits as scarcity increases.
👉 Learn how decentralized ecosystems like Shiba Inu are shaping the future of finance.