Shiba Inu was launched on August 1, 2020, on the Ethereum blockchain and founder Ryoshi donated 505 trillion tokens as a gift to ETH founder Vitalik Buterin. Ryoshi sent 50% of the supply to Buterin allowing the rest 549 trillion tokens to be traded by investors. Buterin received a huge chunk of the tokens and it remained in his wallet without any interference for close to a year.
However, Vitalik Buterin moved the Shiba Inu tokens in May 2021 during the second wave of the COVID-19 pandemic. He almost emptied his wallet for humanitarian relief sending funds to various organizations fighting the global epidemic. The move also put SHIB on the map as it made global headlines over the amount of funds received as aid.
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Here’s What Vitalik Buterin Did With 505 Trillion Shiba Inu Tokens
In May 2021, Vitalik Buterin donated 50 trillion Shiba Inu tokens to a COVID-19 relief fund operating in India. The price of 50 trillion SHIB tokens was worth close to $1.2 billion at that point in time. In addition, he burned 410.24 trillion SHIB tokens worth $6.7 billion by sending them to the dead wallet. It can never be retrieved and is officially burned and removed from circulation.
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After donating 50 trillion Shiba Inu tokens to India’s Covid-19 relief fund and burning 410.24 tokens, Vitalik Buterin currently holds 45 trillion SHIB tokens. He confirmed that he has no plans to sell them and did not reveal what he intends to do. Most likely, he would either donate it to other humanitarian causes or eventually burn it in the future.
The 45 trillion Shiba Inu tokens owned by Vitalik Buterin are now worth $543.6 million. Its value has dipped drastically as its price is now hovering around the $0.00001 mark. It is on the verge of adding an extra zero and could soon trade with five zeroes in the charts.
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