Shiba Inu is dominated by whales far more than any other top cryptocurrency

Here's a quick comparison:

• 69.20% of Shiba Inu is held by whales
• 48.93% of Dogecoin is held by whales
• 21.97% of Ethereum is held by whales
• 1.19% of Bitcoin is held by whales

(According to IntoTheBlock, whales refer to wallets holding more than 1% of the total circulating supply.)

That's a lot of Shiba Inu held in a few hands – in fact, it's just 15 wallets controlling 69.2% of the total SHIB supply.

You might object that the largest whale is actually the Shiba Inu burn wallet. But since Shiba Inu was not designed with coin burns in mind, it's worth remembering the burn wallet is just Vitalik Buterin's address.

And even with the burn wallet taken away (and all exchange wallets removed from others) fewer than 11 Shiba Inu whales control 28% of the SHIB supply, compared with 108 Dogecoin whales controlling 26% of the DOGE supply.

Below, we'll look at the games these whales have played in the past 12 months and look at other cryptocurrencies which actively combat whale manipulation (EverGrow).

Shiba Inu whales caused the all-time high – not Elon Musk

Shiba Inu surged to an all-time high of $0.00008 in October last year.

The price pump put Shiba Inu in the history books as SHIB registered a price increase of 46,000,000% within 10 months – and the legendary wallet which purchased $8,000 Shiba Inu in August 2020 hit a valuation of $5.7 billion.

Ask most crypto investors, and they'll tell you the surge was caused by Elon Musk tweeting a photograph of a SHIB coin going to the moon on October 18th.

But this is not the whole truth.

Instead, Santiment revealed how just eight whales caused the price pump by making a series of large purchases over $100k. A graph they published shows the exact correlation between these $100k+ purchases and price spikes in Shiba Inu.

By the last week of October, these eight whales took profits after making 800% returns on their investment.

Unsurprisingly, within a week the Shiba Inu price had fallen from $0.00008 to $0.00004.

Anyone who had bought SHIB at the height of the whale games would have seen their portfolio rekt. Anyone who bought Shiba Inu since would likely see their portfolio firmly in the red.

Most Shiba Inu holders are currently in the red

IntoTheBlock data shows that 60.43% of all Shiba Inu addresses are currently out of the money – some 701,670 wallets.

Around 110,000 of these wallets bought into Shiba Inu when it was worth over $0.00006. It means that around 10% of all Shiba Inu investors bought SHIB during a seven-day period when whale purchases pumped the price to an all-time high and then made an 800% return as prices tanked once more.

In other words, the coordinated actions of just eight whales encouraged over 100,000 people to make a loss on their investment.

We can talk all day about Shiba Inu success stories – but the majority made a loss.

Whale games came back in the spotlight in June this 2022 as just one Shiba Inu whale sold 9.47 trillion SHIB (worth $100 million) between June 9th-10th. If you look at price charts this correlates with a period in which the Shiba Inu price fell from $0.000011 to $0.0000077.

Of course, market conditions are a major factor in crypto markets. But Shiba Inu whales also play a huge role in manipulating prices most commonly so they can buy back tokens at a cheaper price just days later, and pocket a huge profit.

Can I not just copy whale games in my own Shiba Inu investment?

You could follow Shiba Inu whale transactions to get an idea when large transactions are pushing prices up or down.

This would greatly help you to stay cool during bull and bear markets.

But there's always a risk with an asset whose fate lies in so few hands. While you might be able to make returns during a whale pump, it begs the question: what happens when the whales move on?

Shiba Inu is dominated by Ethereum whales. These wallets can be seen on whalestats.com and they typically hold a wide range of tokens. There's often not a lot tying them to Shiba Inu besides the chance to make a lot of money.

Furthermore, when crypto investments are determined by copying the actions of whales it defeats the point of decentralisation.

Crypto aims to create a financial system that is not controlled by just a few hands.

Clearly, there must be a better solution to the problem.

EverGrow – an anti-whale cryptocurrency

With the example of Bitcoin, mass adoption is a clear antidote to whale games.

If more retail investors bought up Shiba Inu then the centralised power of the whales would naturally be broken up.

But what if a token started out with mechanisms to avoid whale games?

Enter EverGrow.

The EverGrow white paper explains how an 'anti-whale system' limits any sells to no more than 0.125% of the circulating supply. This would instantly block large sells like Shiba Inu has seen.

But EverGrow has more than this. It's a reflection token which charges you 14% to buy, sell or trade EverGrow.

Sounds steep?

That's the point. A large holder would not feel encouraged to pump a coin, sell within a few days, and then buy it back up again if each of these transactions lost them 14%.

But that's the whole idea.

An 8% cut of the 14% tax is distributed to all holders as BUSD rewards. Essentially it's a mechanism that earns you passive income while also combating whale games. If a whale wanted to sell $1 million worth of EverGrow they would need to give $140,000 to the community – and $80,000 to their crypto wallets.

There must be whales owning EverGrow though?

There are – you can see them on bscscan.com (the largest wallet is the burn wallet).

But the difference is that these whales cannot be seen to pump and dump the token. Instead, they use their BUSD rewards to re-invest in other tokens or buy up even more EverGrow.

Take the EverGrow chairman Sam Kelly.

Back in June, Kelly revealed on Twitter how he had joined EverGrow as an investor like anyone else. In 8.5 months he made $92,000 and quickly joined the project as chairman out of his enthusiasm for passive earning potential in crypto.

This is what he said:

"Many know that EverGrow pioneered core team/founders being paid via rewards only, & we published our wallet addresses. I have earned a total of $92k in 8.5 months, reinvested some in EverGrow, left rest in wallet 0x027012b6f08aa3cbe9b85cdd6395ae9e9bfbc94f."

Looking at bscscan.com we can see that an investment worth $700k has earned $92k in passive income in less than 9 months.

These are returns that don't require any buying or selling. There's little incentive for EverGrow whales to pump a coin, sell it, and buy back at a profit because they'd probably be losing more money than they could make by just hodling along.

That's why EverGrow is such an interesting project that's booming this August 2022 – with price pumps up 26% and even higher than Shiba Inu.

What EverGrow makes clear is that whales are neither good nor bad. Whales are a fact of crypto investing. The difference is, which kind of whale would you like to have controlling the fate of your hard-earned investment? The Shiba Inu kind? Or the EverGrow kind?