Shiba Inu's Supply Concentration Sparks Centralization Concerns

Shiba Inu's holder base has grown significantly, but despite having nearly 1.7 million holders, less than 1,000 wallets control a large portion of its supply.

This concentration raises concerns about centralization and market risk, which may impact the token's future performance.

The token has experienced a major price decline over several months, with its market cap decreasing by nearly $2.30 trillion in value.