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Fresh Shiba Inu (SHIB) on-chain data has revealed a potential all-time high in centralization, suggesting that just 707 large wallets may control as much as 94.49% of the coin's total circulating supply.
According to Etherscan's Whale Concentration metric, major holders may control tokens worth approximately $2.36 billion, while the rest of the retail market may account for less than 2% of the supply.
If these figures reflect a real withdrawal of liquidity from trading platforms, exchange order books could be severely depleted. This would create conditions for a sharp price reversal once large market orders appear, potentially triggering the long-awaited comeback.
SHIB supply deficit could fuel 39% upside
The TradingView technical chart supports a scenario in which the coin's prolonged decline is approaching its final stage, as indicated by a series of bullish RSI signals near the local bottom.
The main price magnet within this technical rebound is the long-term moving average — a major resistance line represented by the 200-day EMA. The distance from current levels implies 39% potential upside, while the target itself coincides with a historical Volume Profile shelf in the $3.49 billion to $3.54 billion Shiba Inu market capitalization range.
The limited volume of freely available coins on exchanges suggests that a price reversal toward this level could unfold faster than usual.
If this 39% move is realized, the asset's market valuation could rise to $3.50 billion. This would theoretically allow Shiba Inu coin to reshape the top-30 ranking by CoinMarketCap, enter the top 25, and overtake six major cryptocurrencies.
SHIB currently holds 31st place with a market capitalization of $2.50 billion. A hypothetical impulse could successively close the gaps with Tether Gold, Cronos, PayPal USD, Avalanche, Sui, and Hedera.
The final stage of this comeback scenario could involve overtaking Global Dollar, valued at $3.24 billion, which would push SHIB into 24th place in the global cryptocurrency rankings.
Dan Burgin
U.Today Editorial Team
