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.
- Content Editor ( u.today )
- 2025-01-09
565 Trillion Shiba Inu (SHIB) Now Held by Only Five Whales