Shiba Inu's 1.84 Million Addresses Mask Extreme Concentration
Shiba Inu's expanding presence on multiple blockchain networks has revealed an uncomfortable truth about its circulating supply. Despite having over 1.84 million addresses across Ethereum and Shibarium, a staggering 95% of SHIB's total supply is concentrated in just 808 wallets.
This extreme concentration of ownership means that the price trajectory of SHIB could be heavily influenced by the trading decisions of a small group of large holders rather than broad-based demand. The top 100 wallets alone control 82.73% of the circulating supply, while retail investors account for a mere 0.04%. This dynamic makes SHIB particularly sensitive to high-volume wallet movements.
The token's price chart has entered a critical phase of compression, with trading analysis suggesting that it is sitting at the apex of a large symmetrical triangle pattern. With the resistance trendline from August's $0.00000600 high converging with long-term support on the daily chart, traders are watching two key levels: a daily close above $0.00000540 or below $0.00000500.