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SHIB On-chain data shows that Shiba Inu coins are highly concentrated, with 707 wallets controlling 94.49% of the circulation.
The latest on-chain data shows that Shiba Inu coins (SHIB) are significantly centralized: only 707 large wallets control 94.49% of its circulation supply. This conclusion comes from Etherscan's "whale concentration" indicator, and these major holders hold approximately US$2.36 billion worth of SHIBs. In comparison, retail investors hold an estimated share of less than 2%.
Centralization and Market Risk
Analysts point out that if these data truly reflect exchanges 'withdrawals, then SHIB's order book may become extremely illiquid. Once a large buy or sell order appears in the market, price fluctuations will be extremely violent, which will amplify market volatility. Some market observers believe that if demand surges, this could also create the conditions for significant price reversals.
As supply is highly concentrated in relatively few addresses, the possibility of sudden and sharp market fluctuations increases. If a small number of these wallet holders decide to sell or transfer tokens, the impact will be significant given limited liquidity.
Technical Signals and Rising Potential
Based on chart analysis shared on TradingView, SHIB's long-term downtrend may be drawing to an end. A range of technical indicators, including the Relative Strength Index (RSI), showed bullish signals near local bottoms, supporting expectations of an imminent rebound.
The main technical resistance level is the 200-day exponential moving average (EMA), which is currently considered the main price target for a potential rebound. Based on current levels, hitting this EMA means 39% room for upside. Analysts pointed out that the 200th EMA coincides with the historically high volume trading range. If this goal is achieved, the market value of Shiba Inu is expected to reach US$3.49 billion to US$3.54 billion.
Current value: market cap of approximately US$2.5 billion (ranked 31st)
39% target: market cap of approximately US$3.5 billion, expected to enter the top 25
The limited supply of SHIBs available on exchanges may accelerate price moves towards these levels if there is a significant return in demand in the market.
Impact on global rankings
If the price of SHIB rises by 39%, its market value will reach approximately US$3.5 billion. The change will elevate Shiba Inu's position in the global rankings, potentially allowing it to surpass six major cryptocurrencies: Tether Gold, Cronos, PayPal USD, Avalanche, Sui and Hedera.
Currently, SHIB ranks 31st by market value. The expected rebound could allow the token to close the gap with competitors and enter the top 25 cryptocurrencies listed on CoinMarketCap.
If SHIB surpasses Global Dollar, which currently has a market value of US$3.24 billion, it will rise to 24th place in the global cryptocurrency value ranking.
94.49% of SHIBs are concentrated in 707 wallets, and any large-scale action by these holders could quickly change the market. Technical indicators point to a potential rebound, and if achieved, the rebound target could push Shiba Inu to the top 25 cryptocurrencies.
