- The top five SHIB holders control about 7% of the total supply, a notable figure in the cryptocurrency landscape.
- Despite the market’s volatility, these holders show a long-term investment approach, holding their assets through significant market fluctuations.
In the dynamic world of cryptocurrencies, Shiba Inu (SHIB) stands out with its vast user base of over 1.36 million holders. A deep dive into SHIB’s distribution reveals a fascinating detail: although the top hundred addresses command about 79% of SHIB’s total supply, focusing on just the top five – excluding exchanges and the burn wallet – paints a different picture.
These elite addresses, when analyzed through the lens of data from Etherscan show a less concentrated ownership, holding just around 7% of SHIB’s supply.
Understanding the SHIB Elite
Peering into the echelons of SHIB’s ownership, the largest individual holder boasts approximately 42.6 trillion SHIB, translating to about 4.26% of the total supply. Identified by the initials 0xf3B007, this address’s affiliation seems linked to Crypto.com, with a diverse portfolio including Cronos Coin and other meme currencies like Dogeelon and Floki. Following closely is a contract address starting with 0x4221, managing 1.36% of SHIB’s supply, speculated to be controlled by an active on-chain trader.
The Dynamics of the Top Five
The remaining three of the top five SHIB holders each possess around 1% of the supply. These addresses, marked by initials 0xF28d2, 0x99c1, and 0x3198, received significant SHIB holdings around the token’s all-time high in late 2021. Notably, these transactions occurred when SHIB was peaking in value, suggesting substantial investments made at a time of heightened market interest.
Market Resilience and Long-Term Outlook
A common thread among these top addresses is their long-term holding strategy, evident through one of the most challenging bear markets in the crypto world. Despite market turbulence, these holders maintain their stakes in SHIB, seemingly betting on a future price resurgence. At the time of this writing, SHIB trades at $0.00001084, marking a steady phase above the $0.000010 threshold for the past ten days, showcasing its resilience and potential for recovery.