80% of Total SHIB Supply Concentrated in Few Hands — What's 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."

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.

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 Inu's "concentration by large holders," often referred to as whales, currently sits at 74%, according to IntoTheBlock data.

IntoTheBlock's "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.

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