Arkham Intel Uncovers Shiba Inu Whale Wallets Ahead of Shibarium Hard Fork

Arkham Intelligence has unveiled data on the top Shiba Inu (SHIB) holders, with the burn address holding a significant 41.04% of the circulating supply valued at $10.33 billion. The upcoming Shibarium Layer 2 hard fork on May 2 aims to enhance transaction speeds and stabilize fees to improve the network's efficiency and accessibility.

Arkham Intelligence Unveils Top Shiba Inu Holders Amid Imminent Shibarium Hard Fork

Insight into the Top Shiba Inu (SHIB) Wallets

Arkham Intelligence, a blockchain analytics firm, has disclosed the accounts holding the most Shiba Inu (SHIB) tokens and their current balances.

The top three wallets holding SHIB are as follows:

1. Burn SHIB Address: This address, where all burned SHIB tokens are sent and locked, holds 410,418,817,200,312.1 SHIB, representing 41.04% of the total circulating supply and valued at approximately $10.33 billion.
2. Crypto.com Hot Wallet: With holdings of 37,570,344,005,265.1 SHIB or 3.76% of the circulating supply, Crypto.com's hot wallet ranks second, with a value of $950.5 million.
3. Binance Cold Wallet: Binance maintains a cold wallet with 35,570,818,784,448.26 SHIB, accounting for 3.5% of the circulating supply and equivalent to $885.5 million.

Robinhood and the Shib Team's Holdings

Robinhood, a popular brokerage platform, holds 31,753,251,930,362.97 SHIB in its cold wallet, representing 3.18% of the supply worth $803 million, ranking fourth among the top holders.

The Shib team's wallet occupies the 10th spot on this list, holding 6,397,162,264,908 SHIB meme coins with a value of $164,920,000.

Benefits of the Shibarium Hard Fork

In a recent announcement, the Shiba Inu development team revealed that the Shibarium hard fork is scheduled for May 2.

This hard fork will introduce significant changes to the Ethereum L2 network, Shibarium, including:

• Enhanced Transaction Speed: The upgrade aims to drastically improve transaction processing speeds, allowing faster block production on Shibarium and reducing confirmation wait times.
• Stable Transaction Fees: The hard fork will stabilize transaction fees, particularly during periods of high network traffic, preventing unexpected fee spikes that can deter users from conducting transactions.

Current Market Status of Shiba Inu

At the time of writing, Shiba Inu (SHIB) is trading at $0.00002549, having experienced a 1.2% decline in the past 24 hours.