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Amount of SHIB Supply Held by Whales Becomes Alarming

Mon, 12/26/2022 - 15:50
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Gamza Khanzadaev
Concentration of whales in Shiba Inu token raises concerns
Amount of SHIB Supply Held by Whales Becomes Alarming
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According to IntoTheBlock data provided by CoinMarketCap, 80% of the total supply of Shiba Inu tokens, SHIB, is concentrated in the hands of large investors. They are considered to be those whose asset position accounts for more than 1% of the total supply and are referred to as whales.

More detailed data states that the top 100 SHIB holders are responsible for 81.41% of the token's supply, while the top 10 whales hold 62.72%. It is also important to clarify that 41.03% of the total supply of Shiba Inu tokens is on a "dead" address destined for SHIB burning.

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It is not all so clear-cut

However, according to the data, SHIB's concentration in the hands of investors from the top 10 to the top 100 has been declining over the past month. The number of SHIB holders has been growing since the beginning of December, which could indicate that new retail investors are entering the asset.

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Indirectly, the statistics for the declining share of large investors in Shiba Inu tokens is confirmed by data from WhaleStats, reported by U.Today earlier. Over the past 30 days, 100 of Ethereum's largest holders have reduced their stake in SHIB by the equivalent of $25.2 million. By comparison, in mid-summer, the size of the position in Shiba Inu tokens of this investor category exceeded $600 million.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.