The Shiba Inu ecosystem has witnessed a significant shift. The number of SHIB millionaires has fallen below 1,000 following recent market turbulence. This decline reflects broader changes in the meme coin landscape.
Current State of SHIB Holdings
IntoTheBlock data reveals some striking numbers. Only 2,470 addresses now hold between $10,000 and $10 million in SHIB tokens. These holders control $3.5 billion worth of SHIB. The breakdown shows 1,059 addresses holding $100,000 to $1 million, and 880 addresses holding $1-10 million.
Whale Activity and Market Impact
The most notable shift appears in the whale category. The number of addresses holding over $10 million in SHIB has dropped from 75 to 74. These whales control $11.69 billion worth of tokens. Their movements often create significant market ripples.
Market Analysis
SHIB currently trades at $0.0000165. The token has shown resilience despite a 20% drop. It has recovered 9.8% in the past week. This bounce suggests strong support levels. However, the 41% decline in trading volume signals caution.
Technical Outlook
The price action shows a potential recovery pattern. Support levels appear strong at $0.0000160. Resistance sits at $0.0000170. The declining trading volume might indicate consolidation before the next major move.
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Future Implications
The declining millionaire count might signal a maturing market. Retail investors now hold more distributed positions. This could lead to more stable price action long-term. The ecosystem appears to be transitioning from speculation to utility.
Tags: #SHIB #CryptoMillionaires #MemeCoins #CryptoWhales #MarketAnalysis
Source: NewsbtC