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Title: 120,000,000,000,000 Shiba Inu (SHIB): Whales Taking Full Control
Shiba Inu whales are taking back control over the token’s supply, as new data reveals that only 46 high-activity addresses now hold over 120 trillion SHIB, or approximately 12.3% of the total supply in circulation. This significant concentration has raised concerns about a potential price shift in one direction or another.
From an on-chain perspective, Shiba Inu’s failure to break through its multi-month downtrend and reject previous resistance at $0.0000145 further solidifies the whales’ control. Additionally, SHIB’s brief surge above this level was swiftly rejected, signifying that there is considerable overhead supply available for sellers to continue profiting from any attempts at a rally.
In contrast, large holder inflows have surged by an astonishing 538% in the last seven days, a stark increase compared to the preceding month’s drop of 32%. Notably, outflows have increased by over 6,000% in just one week but are still down 86% on a monthly basis. This disparity highlights that significant players are reassessing their positions rather than abandoning them completely.
A sudden change is not unprecedented and is often a characteristic of unpredictable markets. However, this shift could result in an abrupt price reversal.
Source: u.today
