Shiba Inu Holders Breakdown: Here’s How Many Whales Control 95% of the Supply

The most recent data show that the self-proclaimed Dogecoin killer has almost 1.7 million holders. However, less than 1,000 wallets own the vast majority of the supply: a concentration hard to ignore and which raises eyebrows.

Shiba Inu’s price has been in a major decline over the past several months, yet some analysts believe a rebound could be on the way while certain factors support their bullish outlook. How Many Whales and Shrimps? Earlier this month, the total number of SHIB addresses reached an all-time high of 1,676,535 after a sudden one-day increase of 75,000 new holders.

The figure kept climbing and currently stands at 1,678,502. According to Etherscan, nearly a million of those are investors known as shrimps: wallets holding up to $10 worth of the meme coin. The second-largest group is crabs (477,871), who own between $10 and $100 in SHIB.

Coming up next are fish, dolphins, and sharks. Interestingly enough, there are only 703 whales (addresses that hold more than $100K worth of the token each). They make up only 0.

04% of the total figure but control staggering 94.5% of Shiba Inu’s supply. Such an extreme concentration means that theoretically a small group of investors could move the market with their actions.

A coordinated sell-off, for instance, could lead to a substantial price crash, while sudden accumulation might have the opposite effect. SHIB at a ‘Critical Stage’ As of press time, the token is worth around $0.000004235 (per CoinGecko), translating into a massive 72% decline on a yearly scale.

X user CRYPTO SHERIFF noted that the asset has been consolidating below a 5-year downtrend, arguing that it is in “a critical stage” which could actually be a precursor to a huge pump. “There is an unwritten rule in crypto: the longer the consolidation lasts, the bigger the breakout! SHIB is at a critical stage!

Unless there is a market downturn in the coming days, we could see a new rally for SHIB,” they stated. The declining amount of tokens stored on exch