Shiba Inu (SHIB), The Trap of 1.67 Million Wallets...Controversy Over 1 SHIB Airdrop to Random Addresses

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Shiba Inu (SHIB) holding addresses surpassed 1,675,551, but a debate has erupted over the true nature of the more than 75,000 addresses added in just three days. Claims that the number of holders was artificially inflated by sending 1 SHIB to random wallets have brought the gap between apparent growth and actual adoption into question.

According to crypto media outlet The Crypto Basic on July 7 (local time), Shiba Inu holding addresses surpassed 1.6 million earlier this month and have increased by over 75,000 since July 4. The total number of holding addresses reached 1,675,551. Community figure The Dark Shib claimed that the recent increase came not from an influx of new investors but from an automated token distribution structure.

The Dark Shib pointed to TheShibBull, a verified smart contract created by WoofSwap. It is alleged that this contract generates random Ethereum addresses using blockchain data such as block hashes, then sends at least 1 SHIB to hundreds of wallets per transaction. He emphasized that addresses that did not intentionally purchase Shiba Inu or participate in ecosystem activities are also counted as holders, stating, "Actual adoption cannot be accurately measured by wallet count alone."

The controversy also spread to marketing allegations. The Dark Shib claimed that the contract owner can change the Shiba Inu distribution amount and withdraw tokens within the contract, making it difficult to view it as a fully decentralized community activity. He also took issue with WoofSwap promoting the increase in Shiba Inu holders while simultaneously drawing attention to RYOSHI tokens.

WoofSwap countered that it was not an attempt to mislead investors but a lighthearted community project. WoofSwap stated, "Making holding addresses fake does not render the entire activity useless," and suggested that the actual owners of random addresses might discover 1 SHIB when checking their wallets. It further described TheShibBull as a fun experiment to celebrate the ecosystem.

In terms of holding structure, a clear concentration in large wallets was evident. Etherscan data showed that whale wallets, numbering 707, accounted for only 0.04% of total holders but held 94.52% of the $2.55 billion market capitalization. Conversely, 973,906 small wallets, representing 58.12% of all holding addresses, held only 0.05%, revealing a significant disparity between the increase in the number of holders and the concentration of token ownership.

[Article Summary]

-Shiba Inu holding addresses have surpassed 1,675,551, increasing by over 75,000 since July 4.

-The Dark Shib claimed that a smart contract sending at least 1 SHIB to random addresses inflated holder growth, while WoofSwap countered that it was a community experiment.

-707 whale wallets, representing 0.04% of all holders, accounted for 94.52% of Shiba Inu's market capitalization.

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