128,990,000,000,000 SHIB Held by Just 45 Addresses: What’s Happening?

Recent on-chain data by IntoTheBlock reveals that a staggering 128,990,000,000,000 SHIB — nearly 129 trillion tokens — is currently held by 45 wallets. This information is indicated by IntoTheBlock ownership indicators, which provide a view of a crypto asset’s “capital stack” according to concentration and holding period.

Based on concentration, IntoTheBlock classifies Shiba Inu large holders into two categories: whales and investors.

Investors refer to all addresses that own 0.1% to 1% of a cryptocurrency’s circulating supply. These indicate addresses that hold a reasonably large position in this cryptocurrency.

In the case of Shiba Inu, 128,990,000,000,000 SHIB are concentrated in the hands of “investors,” who are currently 45 in number.

What’s happening?

Shiba Inu, originally launched as a meme coin, has grown into a prominent player in the altcoin space. With a total supply of over 589 trillion SHIB, the fact that nearly 129 trillion is held among only 45 addresses is significant.

This level of concentration raises key questions: Are these Shiba Inu addresses associated with exchanges, custodians or individual investors?

According to blockchain analytics, many of the top SHIB holders include centralized exchanges (such as Binance and Coinbase), which frequently pool users’ tokens in cold wallets; smart contracts and burn addresses associated with ShibaSwap, Shibarium and other Shiba Inu platforms; and a small number of individual or institutional holders with significant early positions.

The limitation of the ownership indicators is that they do not differentiate regular addresses from exchanges and smart contract addresses; therefore, the exact makeup of the Shiba Inu “investors” class is unknown.

At press time, SHIB was trading up 0.01% in the last 24 hours to $0.00001166 amid the current lackluster trading activity on the market.