Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

In a recent tweet, Shiba Inu lead Shytoshi Kusama addressed claims circulating within the community about individuals allegedly owning billion-dollar SHIB wallets.

In a tweet, Kusama wrote: "It's come to my attention that individuals have claimed to own the BILLION dollar Shib wallets. I suggest interested parties confirm this is the case before blindly believing such a wild claim."

Kusama went on further to offer a simple method to verify if someone truly owns one of these highly valuable wallets. He suggested asking the supposed owner to choose a number between 1 and 100. The next step would be for them to publicly show the amount and then send the exact number of SHIB tokens from the claimed wallet to another wallet address.

“If NO for any reason (Key not with me, I'm waiting for x reason), you can assume they're lying. Be careful out there,” Kusama added, warning the community to be cautious of such wild claims.

With the rise in SHIB's popularity, claims about wallet ownership might lead to potential misinformation, hence, the warning from Shiba Inu's lead developer. Large holders, often referred to as "whales," have the power to impact the market through significant buying or selling activities. As a result, verifying who truly controls these wallets might be crucial for maintaining transparency and trust within the community.

Shiba Inu holdings distribution matrix

The Holdings Distribution Matrix indicator from IntoTheBlock shows a breakdown of different groups of addresses according to the balance that they hold.

In this regard, according to IntoTheBlock data, 99.2% of Shiba Inu addresses hold between 0 SHIB and one billion SHIB, totaling $539.69 million.

Nearly 0% of addresses hold between one trillion and 100 trillion SHIB; specifically, 50 Shiba Inu addresses own between one trillion and greater than 100 trillion SHIB. The paucity of addresses holding this amount may indicate that they largely belong to exchanges or crypto platforms.

At the time of writing, SHIB was up 3.12% in the last 24 hours to $0.000018.