Shiba Inu was launched on August 1, 2020 at Ethereum Blockchain and founder Ryoshi donated 505 trillion tokens Like a gift to the ETH founder Vitalik Buterin. Ryoshi sent 50% of the supply to Buterin which allows the rest 549 trillion tokens to be traded by investors. Buterin got a huge piece of tokens and it remained in his wallet without any disturbance for almost a year.
Vitalik Buterin, however, moved the Shiba Inu symbols in May 2021 during the second wave of the Covid-19-Pandemic. He almost emptied his wallet for humanitarian relief that sent funds to various organizations fighting against the global epidemic. The move also put Shib on the map because it made global headlines over the amount received as support.
Here’s what Vitalik Buterin did with 505 trillion Shiba Inu -Tokens
In May 2021, Vitalik Buterin donated 50 trillion Shiba Inu symbols to a Covid-19-Settad Fund operating in India. The price of 50 trillion SHIB symbols was worth close to $ 1.2 billion at that time. In addition, he burned 410.24 trillion SHIB symbols worth $ 6.7 billion by sending them to the dead wallet. It can never be retrieved and burned officially and removed from circulation.
Also read: Shiba Inu Burn Rate falls to 0% When Election Hells 600%
After donating 50 trillion Shiba Inu symbols to India’s Covid-19-Slag Fund and burning 410.24-tokens, Vitalik Buterin currently has 45 trillion SHIB symbols. He confirmed that he has no plans to sell them and did not reveal what he intends to do. Probably he would either donate it to other humanitarian causes or eventually burn it in the future.
