SHIB Rich List Expands as Holder Count Tops 1.6 Million
Shiba Inu's (SHIB) holder base has surpassed 1.6 million funded wallets, marking a significant milestone for the meme token.
This development has put the token's rich list back in circulation as SHIB attempts to hold onto a fragile rebound from recent lows.
The top 1% threshold for SHIB holders has dropped to 380 million tokens, which is equivalent to around $2,000 at current prices of $0.0000052 per token.
However, despite the large number of wallets holding tiny balances, the largest addresses still dominate, with the top 10 wallets controlling over 62% of supply according to CoinLore data.
The concentration of supply among a small number of large addresses means that price is still sensitive to their movements, and recent transfers of over 3 trillion SHIB between Binance's internal wallets have raised concerns about potential selling pressure.