The amount of SHIB supply held by whales is becoming alarming

According to data provided by IntoTheBlock, 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 represents more than 1% of the total supply and are called whales.

More detailed data indicates 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 note that 41.03% of the total supply of Shiba Inu tokens is on a “dead” address intended for SHIB burning.

Read:  Elizabeth II's funeral chapel in Edinburgh receives more than 26,000 visitors

All is not so clear

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

Indirectly, the statistic of the decline in the share of large investors in Shiba Inu tokens is confirmed by data from WhaleStats. Over the past 30 days, 100 of the largest Ethereum holders have reduced their stake in SHIB by the equivalent of $25.2 million. By comparison, in mid-summer, the size of the Shiba Inu token position of this class of investors was over $600 million.

Read:  Germany says the Minsk Agreements are "no longer worth anything" and accuses Putin of lying about Ukraine

The Best Online Bookmakers on March 31 2023

BetMGM Casino