SHIB price nears breakout as 95% of supply held by 808 wallets

SHIB’s concentrated market structure

Research from Ethereum’s Token Analytics module shows that 94.68% of SHIB’s circulating supply is locked across just 808 addresses. These wallets represent only 0.05% of all SHIB investors, highlighting an extremely centralized ownership structure within this meme coin market.

Among these, the top 100 wallets control 82.73% of the supply, while retail investors—numbering in the millions—hold a mere 0.04% collectively. This ownership trend has established a market dynamic where the decisions of several hundred large holders can quickly determine broader price direction.

Mini dictionary: Shiba Inu (SHIB), an Ethereum-based meme coin, initially launched in 2020 as an experiment in decentralized community building and has since become one of the largest altcoins by market capitalization.

Technical triggers and market outlook

Analysts are closely monitoring price action within the symmetrical triangle, focusing on key resistance and support levels. A close above the $0.00000540 resistance could initiate an upward move targeting $0.000006 and $0.000008. On the other hand, a drop below $0.00000500 would risk triggering a selloff by large holders, potentially taking SHIB to new lows.

With 94.68% of circulating SHIB supply controlled by just 808 wallets, future price action depends largely on decisions made by these major holders.

Currently, SHIB’s on-chain market capitalization is $5.19 billion. Liquidity remains highly condensed, meaning that the largest addresses can set price direction regardless of general market activity or retail interest.

Critical levels and chart positioning

Technical analysis highlights that price compression in SHIB has reached an extreme at the apex of the triangle pattern. The resistance trendline, stretching from August’s $0.00000600 high, has now met the long-term support level on the daily chart. Following a 1.71% decline over the past 24 hours, SHIB is holding at $0.00000520.

Meanwhile, the Relative Strength Index (RSI) is at 54.54, reflecting a neutral stance and a balance between buying and selling sentiment as the asset approaches a major inflection point.

Given the dominant position of large holders, any imminent breakout from the symmetrical triangle is expected to lead to swift and potentially directional price movement.