Shiba Inu Sees $120 Million Weekly Surge—Whales Tighten Their Grip
Large investors control approximately 74% of Shiba Inu's 95 billion circulating tokens, indicating a high concentration of holdings among wealthy addresses. This concentration creates both stability and risk for smaller traders, as it can lead to significant price fluctuations if large holders decide to liquidate their assets. Recent data shows weekly transaction volumes exceeding $120 million, with trades over $100,000, despite minimal price movement, currently at $0.00001226 with less than 1% daily change. The substantial trading activity suggests ongoing interest from institutional investors. However, the dominance of a few large holders poses risks, as their actions can drastically affect market dynamics. The situation exemplifies how concentrated ownership can influence cryptocurrency markets significantly.
