Shiba Inu's Mystery: Who Holds the Key to 60% of SHIB's Supply?
The prominent meme coin Shiba Inu (SHIB) is known for its increasing utility. The community-driven project has garnered attention as it aims to move away from its “meme coin” tag. While the team behind SHIB has been building without a stop, the price of the asset was seen falling short of expectations. Amidst this, a recent report highlighted how a notable 61.3% of the meme coin’s total supply is held by the top 10 largest wallets. Also Read: What is Cryptocurrency (for Dummies)? An Imbalance In The Shiba Inu Network? Source: Watcher Guru According to recent data from Santiment, the ten largest wallets in the Shiba Inu network hold 61.3% of SHIB’s total supply. The firm further explained how this disparity could cause chaos in the market. Santiment noted that only a small number of holders will have authority over the market. In SHIB’s case, more than half of its supply is being held by ten wallets. If in case these wallets decide to sell their holdings, th...