80% of Total SHIB Supply Concentrated in Few Hands — Whats Impact?

According to data from IntoTheBlock, long-term Shiba Inu (SHIB) holders now collectively own more than 80% of the total supply. This highlights a significant level of commitment among this class of holders, despite the recent uncertainty on the market.

In a tweet, IntoTheBlock wrote, “Long-term SHIB holders collectively own more than 80% of the total supply. This indicates that even amid challenges in the memecoin market, many SHIB holders remain optimistic.”

Long-term $SHIB holders collectively own more than 80% of the total supply.

This indicates that even amid challenges in the memecoin market, many $SHIB holders remain optimistic.

Even as the broader crypto and meme coin markets experience volatility, the data suggests that many SHIB holders are confident about the asset‘s future. Long-term holders — addresses that have held SHIB for over a year — now account for 77% of all Shiba Inu addresses, reinforcing the community’s strong belief.

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Interestingly, Shiba Inu boasts a higher percentage of long-term holders than market leaders Bitcoin and Ethereum. According to recent data, Shiba Inu has the third-highest percentage of long-term holders, trailing only Litecoin (LTC) and Chainlink.

However, Shiba Inus “concentration by large holders,” often referred to as whales, currently sits at 74%, according to IntoTheBlock data.

IntoTheBlocks “concentration by large holders” indicator aggregates the percentage of circulating supply held by whales (addresses holding more than 1% of supply) and investors (addresses holding 0.1% to 1%). At 74%, this suggests a significant share of the SHIB market is controlled by a small number of high-value wallets.

Crypto market faces uncertainty

Bitcoin and other cryptocurrencies retreated after initial gains, reflecting market uncertainty. Higher-than-usual market volatility hurt both bulls and bears, as crypto futures racked up $505 million in liquidations in the past 24 hours.

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According to CoinGlass data, this resulted in liquidations of more than $290 million and $215 million for bullish and bearish bets, respectively. BTC-tracked futures saw almost $176 million in long and short liquidations, followed by ETH futures at $90.62 million and other smaller altcoins at $62.22 million.

Shiba Inu traded in losses as a result, down 2.26% in the last 24 hours to $0.000012 and 17% weekly.