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Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Feb 07, 2025 07:53 UTC
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Shiba Inu Whales Control 61% of SHIB Supply: Is This a Red Flag?
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SHIB $ 0.00001240 (3.63%) 
Altcoins have focused on decentralization, with scalability and security largely addressed.
Play-to-airdrop (P2A) is popular in GameFi, but whale control of altcoins, like Shiba Inu, remains a concern.
Shiba Inu has the highest whale concentration (61.3% of circulating supply), a potential risk for retail traders.
The altcoin market has been on a mission to solve the decentralization challenge, a key piece of the blockchain puzzle. While scalability and security have improved through Layer 1 and Layer 2 solutions, fair token distribution is still a work in progress.
Despite new approaches like play-to-airdrops (P2A), large investors—known as whales—continue to dominate many altcoins. But just how much control do they have?
New data reveals that Shiba Inu (SHIB) has the highest whale concentration among top altcoins, raising both excitement and concerns. Could this make SHIB a safer bet or a ticking time bomb? Let’s dive in.
The Most Whale-Dominated Altcoin
On-chain data from Santiment reveals that Shiba Inu (SHIB) has the highest level of whale control among top altcoins. The top 10 largest wallets hold 61.3% of SHIB’s total circulating supply, making it one of the most concentrated tokens on the Ethereum (ETH) blockchain.
With 41% of SHIB’s total supply already burned, the remaining 59% is still in circulation, and over 61% of that is in the hands of whales. This level of control can have both positive and negative effects on the market.
The Pros and Cons of Whale Influence on SHIB
Santiment highlights two key effects of whale dominance in SHIB:
- Selloff Risk: If whales decide to sell a large amount at once, SHIB’s price could crash, leaving smaller investors vulnerable.
- Market Stability: When large investors hold a token long-term, it can create confidence and reduce sudden price drops.
How Other Altcoins Compare: ETH, LINK, and TON
Whale control isn’t just a SHIB issue. Ethereum (ETH) also has a high concentration, with 46% of its supply held by the top 10 wallets, making it similarly vulnerable to large selloffs.
On the other hand, Chainlink (LINK) and Toncoin (TON) have a more balanced distribution, with whales holding 33.1% and 32.8% of their total supply, respectively. This means they are less likely to experience extreme price swings caused by a few large investors.
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While SHIB’s whale concentration shows strong investor interest, it also increases market risks. For retail traders, keeping an eye on whale activity is crucial.
Yes 
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