Market Reflection
565 Trillion Shiba Inu (SHIB) Now Held by Just Five Whales
2-minute read:
Five whale addresses now control a staggering 57% of the entire supply, or 565 trillion SHIB tokens, which is an interesting development in the on-chain dynamics of Shiba Inu. Considering such a large concentration of funds in the hands of a small fraction of investors is raising questions ahead of potential market volatility.
A separation between high and low activity addresses is quite obvious in the SHIB distribution, with one high activity wallet holding 41.7% of the total supply. Understanding potential short-term price movements depends on the activity of these wallets, even though such centralization can increase the risk of market volatility.
Furthermore, recent on-chain data indicates that outflows by large holders have slowed significantly, falling by 31% in the last seven days. This decrease may suggest that there is less pressure on whales to sell, which would be good for price stability. However, as SHIB approaches the 200 EMA support near US$ 0.00002079, inflows have increased by 53%, indicating accumulation by larger players.
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