The number of Shiba Inu millionaires has declined to below 1,000 following the recent market crash. According to on-chain data from IntoTheBlock, the total number of addresses holding $10,000 to $10 million worth of SHIB tokens has dropped to 2,470. This group controls over $3.5 billion worth of SHIB.
In contrast, wallets holding over $1 million to $10 million have plummeted to 880.25 addresses, controlling a total balance of $2.8 billion. The decline in high-value holdings is attributed to the recent Shiba Inu price crash and ongoing market volatility.
Despite this, a select group of “whale” investors remains, with only 74 addresses holding over $10 million worth of SHIB tokens. These holders control a significant portion of the meme coin’s supply, although it still falls short of half of the total supply.
The decline in Shiba Inu millionaires is part of a larger trend of market volatility and price fluctuations. The Shiba Inu price has increased by over 9.8% in the past week, reflecting gains despite major losses in the last month. However, trading volume remains relatively low, marking a 41% decline.
Source: https://www.tradingview.com/news/newsbtc:e65f190e0094b:0-shiba-inu-millionaire-numbers-fall-below-1-000-after-market-crash-how-much-do-they-control