The latest on-chain report by Santiment reveals that major cryptocurrencies like Shiba Inu (SHIB), Ethereum, Chainlink, and Toncoin have a high concentration of their total supply held by a small group of top wallet holders. For instance, Shiba Inu has 61.3% of its total supply held by the top 10 largest wallets. This indicates that the price of SHIB can be influenced by the decisions of these major holders, posing potential risks and opportunities for the market. If these key players decide to sell, it could lead to significant price drops and increased volatility. However, if they continue to buy or hold their holdings, it could provide stability for smaller investors. Santiment's data also highlights the complexity of Shiba Inu's market dynamics, including Vitalik Buterin's burn event, which reduced the supply of SHIB. The top 10 SHIB holders currently hold 613 trillion SHIB, with the "0xdEAd" wallet alone holding 410.43 trillion SHIB worth approximately $6.15 billion. The list of top addresses holding SHIB includes major exchanges like Upbit, Binance, Robinhood, and Crypto Com, raising questions about the ownership structure of the cryptocurrency.



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