Concentration of whales in Shiba Inu token raises concerns
According to IntoTheBlock data provided by CoinMarketCap, Shiba Inu Token, 80% of the total supply of SHIB is concentrated in the hands of large investors. Those whose asset position is more than 1% of the total supply are considered and are called whales.
More detailed data states 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 clarify that 41.03% of the total supply of Shiba Inu tokens is on a “dead” address destined for SHIB burning.
it’s not all that clear
However, as per the data, the concentration of SHIB in the hands of investors from top 10 to top 100 has been declining over the last one month. The number of SHIB holders has been on the rise since early December, which may indicate new retail investors are entering the asset.
Indirectly, the statistics for the declining share of large investors in Shiba Inu tokens is confirmed by data from WhaleStats, reported by U.Today earlier. Over the past 30 days, 100 of Ethereum’s largest holders have reduced their stake in SHIB by the equivalent of $25.2 million. By comparison, in mid-summer, the size of the position in Shiba Inu tokens of this investor category exceeded $600 million.
