Shiba Inu (SHIB) Shows Unusual Distribution Metrics Among Investors and Whales

Shiba Inu, considered as the rival of Dogecoin and the second largest memecoin in terms of market capitalization, exhibits unusual distribution metrics among individual investors and whales.

The Current Situation of Shiba Coin Whales

According to data obtained from IntoTheBlock (ITB), a leading analysis platform, whale dominance is noticeable in the current circulating supply of SHIB. It turns out that 63.48% of the circulating coins belong to whales. What’s even more interesting is that 41.78% of these coins belong to whales, which translates to 410.36 trillion Shiba Inu.

Shiba Inu whales play a significant role in balancing the memecoin and maintaining its price against large sell-offs by individual investors. ITB data also reflects another important metric. According to the data, 22.31% or 219.16 trillion of the circulating SHIB is controlled by individual investors. The remaining 14.2% or 139.5 trillion is held by active investors in SHIB.

The distribution of SHIB investors reflects the tendency towards decentralization in the memecoin ecosystem. 41% of the total circulating supply belongs to a single wallet. Apart from this wallet, SHIB distribution appears to be widespread.

ITB data also highlights the continuity of support given to SHIB by whales. This is evidenced by the increased spending of whales in the last 30 days specifically for SHIB. During this mentioned 30-day period, their total holdings increased by 1.59%. In contrast, this period resulted in a 1.09% decrease for individual investors.

The Future of SHIB Coin

SHIB token seems to consolidate within a certain range depending on the behavior of its investors. As of the time of writing, Shiba Inu was trading at $0.000007223, showing a 0.14% increase in the last 24 hours.

While most altcoins accompanied the recent general market rally, SHIB’s movement remained relatively mild. According to on-chain data, Shiba Inu saw an increase of 98,728,338 in the number of SHIB traded overnight, indicating a 38.52% volume increase.

Shiba Inu continues to be among the coins with potential for growth, thanks to its low-cost structure for transactions and the impact of Shibarium, a Layer-2 scaling solution. However, investors should closely monitor the price of Bitcoin and macroeconomic conditions.