129 Trillion SHIB Held by Just 45 Wallets – What’s Going On?

I came across something really interesting in recent on-chain data from IntoTheBlock. Apparently, around 128.99 trillion SHIB tokens – yes, nearly 129 trillion – are held by just 45 wallets. That’s a huge concentration when you think about it.

IntoTheBlock uses ownership indicators to break down how crypto assets are distributed. Based on this, they’ve grouped Shiba Inu’s big holders into two categories: whales and investors.

Now here’s the thing – in this case, these 45 wallets fall under the “investors” category, meaning they each hold between 0.1% to 1% of SHIB’s total circulating supply. That’s a pretty big chunk per address.

So what does this mean for SHIB?

Originally started as a meme coin, Shiba Inu has grown massively in the crypto space. With a total supply of over 589 trillion SHIB, the fact that 129 trillion is sitting in just 45 wallets is definitely worth paying attention to.

But who actually owns these wallets?

Some of these big wallets probably belong to centralized exchanges like Binance or Coinbase. These exchanges usually store a huge amount of user funds in a few cold wallets. Others might be smart contracts or burn addresses related to ShibaSwap, Shibarium, or other official Shiba Inu projects. And of course, there could also be early individual or institutional investors holding large amounts from the early days.

The tricky part is, these ownership indicators can’t really tell if a wallet is an exchange, a smart contract, or just a regular user. So we don’t know exactly who these 45 "investors" are.

As of now, SHIB is trading around $0.00001166, barely up 0.01% in the last 24 hours – showing how slow the market has been lately.

But with this level of concentration, it’s definitely something to watch. One move from these wallets could shift the market in a big way.