It depends entirely on how you look at it. From CMC’s own calculations, there’s three supply values. There’s max supply (1 quad), total supply (589 trillion), and circulating supply (394 trillion until two days ago).
We know what max supply means already.
Total supply is the max supply minus any tokens that have been burned.
Circulating supply, when defined by CMC themselves, is “the amount of coins that are circulating in the market and are in public hands. It is analogous to the floating shares in the stock market”.
The original circulating supply, based on CoinGecko, was max supply – burn wallet – India relief fund – Vitalik Buterin wallet remainder – UniSwap wallet.
1 quad – 410 trill – 10 trill – 46 trill – 79 bill = approx 534 trill (1 trill for UniSwap)
This number represents the math CoinGecko used until a couple days ago. Somehow, they ended up with 498 trillion in circulating supply, based on those numbers but, it doesn’t matter. Let’s remove the relief fund since those are still accessible and would be considered part of the “float”. That will give you approx: 544 trill.
Subtract from that 45 trillion trillion in xSHIB, 45 trill on Crypto.com, 35 trill on Binance, 8 trill on Huobi, 5 trill on Gate.io, 4 trill on BinanceUS, 4 trill on OKEx, 2 trill on Binance14, 1 trill on BitMart2, 1 trill on HECO Chain, 1 trill on Binance15, 1 trill on FTX Exchange, 1 trill on Hotbit3, 1 trill on Binance16, and 1 trill Poloniex4.
554 trill – 45 trill – 45 trill – 35 trill – 8 trill – 5 trill – 4 trill – 4 trill – 2 trill – 7 trill = 393 trillion in circulating supply.
That doesn’t even include the total sub trillion holding exchanges. All that being said, it is possible that these exchanges finally reported an updated amount of buys/sells on the exchange itself and now we’re seeing the amount of Shib that’s actually being held by individual CEX accounts as well as DEX wallets. So, the new circulating supply could, in fact, be indicative of the current float. The fact that CoinMarketCap adjusted SHIB’s market cap to reflect the new circulating supply, while also maintaining the same average price, also indicates this as well.
We had volume higher than the circulating supply a few days ago so, it’s still hard to imagine the new number is correct but, there’s no way to tell 100% correctly. More likely, in my opinion, what we are seeing is the actual total supply. Meaning the max supply minus the dead wallet only. I’m sure we’ll get definitive answers at some point. The fact remains, SHIB has made its mark and is here to stay. With more burns being implemented day after day, it’s only matter of time before we move up to the next level again. So, keep holding, be patient, and stay furry my friends.
submitted by /u/siflbabyshifero
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