Over the years, Shiba Inu has experienced impressive growth in activity in the chain as the tokens have been mercilessly controlled by large holders.
Nevertheless, IntotheBlock’s on-chain data shows that Shiba Inu’s biggest wallets have the largest share of the total supply of tokens.
The prices of popular dog-themed cryptocurrencies remain fairly low compared to major altcoins and memecoins like Ethereum (ETH), XRP, and DOGE, but they appear to have higher control than token market movements, so price performance appears to depend heavily on large owners.
410,043,000,000,000 shib in one wallet
The SHIBA INU Address Distribution Chart shows a total of 1.46 million active addresses within the SHIB community. On the other hand, you only have one wallet from many addresses, holding a large shiv token of 410,043,000,000,000.
While this represents around 41.04% of the circular supply of tokens, the distribution chart means that a single whale controls Shiv’s total market holdings, raising questions about the identity behind the unparalleled Shiv Fortune surge.
According to the data, the total axis held by the whales is worth approximately $5.43 billion as of July 1, 2024. Meanwhile, the tokens are worth about $5.53 billion of press time, the total shares of the most recent holdings carried by the largest shiv owners, at a price of around $5.53 billion at SHIB’s current price.
Nevertheless, this level of concentration sparked curiosity about the decentralization of tokens and the potential for price. Many people worry about the important impact that will have on projects if such large holdings are being moved or sold.
A significant amount of only Shiv Holdings has led market participants to wonder about the identity behind such a large asset. The entities or investors controlling the wallet remain undisclosed, but speculators believe the owner may be one of the early participants in the project or one of the central exchanges.
Additionally, there is a suggestion that owners could become Ryoshi, the founder of token pseudonyms, as it is common in cryptography for founders to hold important token reserves in unidentified wallet addresses.
