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565 Trillion Shiba Inu (SHIB) Now Held by Only Five Whales

565 Trillion Shiba Inu (SHIB) Now Held by Only Five Whales
The news states that five whale addresses now control 57% of the Shiba Inu (SHIB) token supply, raising concerns about potential market volatility. One high-activity wallet holds 41.7% of the total supply, indicating a clear separation between high and low-activity addresses. Large holder outflows have decreased by 31% in the last seven days, suggesting less selling pressure from whales. However, inflows have increased by 53%, indicating accumulation by larger players as SHIB approaches its 200 EMA support. The technical diagram shows difficulty for bulls in regaining resistance levels, and a failure to hold could push prices towards $0.00001900. The concentration of holdings makes SHIB vulnerable to sudden movements by whales, highlighting the importance of the support level at $0.00002079. While ongoing inflows and defense of this support could lead to a comeback, caution is advised due to the reliance on a small number of wallets and potential volatility.

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