The cryptocurrency market is currently experiencing a period of uncertainty. Despite this, activity continues, particularly in the segment of meme coins like Shiba Inu (SHIB).
Recent Crypto Market Changes
Despite the lack of significant price movements, internal activity on the market does not cease. This is particularly evident in the developments surrounding Shiba Inu (SHIB), the second-largest meme coin.
SHIB Flow Analysis
According to data from IntoTheBlock, over the last 24 hours, Shiba Inu whales amassed 922.87 billion SHIB. This is 100% more compared to the previous day. It's worth mentioning that these statistics only consider wallets holding at least 0.1% of SHIB's total circulating supply. However, there was also a significant outflow of 619.44 billion tokens from these large wallets.
Who Controls the SHIB Market?
The majority of the largest holders of Shiba Inu tokens are exchanges. According to various estimates, only five whales hold 565 trillion SHIB, which constitutes 95.8% of its entire circulating supply. This raises the question of how positive the current accumulation of tokens is for the market overall.
Thus, while there is a rise in activity concerning SHIB on the crypto market, its consequences remain uncertain, especially given that major holders are large exchanges.
