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Following
SHIB Donation and Destruction
Shibtoken was launched on the Ethereum blockchain in August 2020, with a fixed supply of 1 trillion $SHIBs. From the first day of the project's launch, its anonymous creator (known only as Ryoshi) sent half of the total supply (approximately 500 trillion tokens) directly to Ethereum co-founder Vitalik Buterin without request. At the time, there were reports that the move appeared to be a marketing stunt.
Buterin did not simply ignore the windfall. In May 2021, he donated 50 trillion pieces of $SHIB to India's Crypto Relief COVID-19 fund. A few days later, on May 16, 2021, he sent 410,241,996,771,871 tokens (more than 410 trillion $SHIBs) to a dead wallet address, permanently removing them from circulation. The tokens were worth approximately $6.7 billion at the time of destruction. In a note to the transaction, Buterin clearly explained his reasons: He did not want to be "the center of that power." The move accounted for 90% of his total holdings of $SHIB and destroyed more than 41% of the original 1 trillion supply of the token in a single transaction.
Floor set by outsiders
The scale of the impact of the incident has so far not been surpassed by the project's own destruction plan. Community-led destruction (which still takes place today) typically totals several million tokens per day, a figure that is negligible compared to the remaining circulating supply that is still measured in hundreds of trillions. As a recent analysis pointed out, in a given 24-hour period, approximately 13.5 million $SHIBs were destroyed, and the total supply was approximately 589 trillion, which is less than 0.00003% of all tokens.
The actual consequences are simple: the supply floor for $SHIB is not set by its own team or community, but a decision made by someone who has never asked to hold these tokens. Every destruction effort since then has been shrouded in the impact of the 2021 deal.
