TLDR
- Shiba Inu has the highest whale concentration among top cryptocurrencies, with 62% of its supply held by ten wallets.
- Ethereum ranks third with 49% of its total supply controlled by its largest holders.
- PEPE shows a more distributed supply, with its top ten holders owning 39% of the circulating tokens.
- SHIB’s price fell by 3% in the last 24 hours, bringing its market cap below 7 billion dollars.
- Over 13.4 million SHIB tokens were burned in a day, increasing the burn rate by 4,000 percent.
Shiba Inu (SHIB) has surpassed Ethereum (ETH), PEPE, and other top assets in one critical metric whale concentration. Recent data shows SHIB’s ten largest wallets collectively hold 62% of the total circulating supply. This level of centralization raises fresh questions about market stability and asset manipulation risks.
Shiba Inu Leads in Whale Control
Santiment’s latest analysis reveals Shiba Inu’s top wallets control more of its supply than any other primary cryptocurrency. This significant centralization could enable rapid price swings if these holders decide to buy or sell in volume. Moreover, such concentration increases volatility and reduces predictability for smaller market participants.
🐳 Here are the percentages of supply held by various large cap assets' top 10 whales. USD Coin has just 27% of its supply held by its top 10 wallets, and Chainlink's is relatively low at 32%. Shiba Inu notably has the most centralized, with 62% of its supply held by its 10… pic.twitter.com/jdFUcmT6uC
— Santiment (@santimentfeed) July 3, 2025
The meme coin currently trades around $0.00001159 after a 3% drop over the last 24 hours. SHIB’s market capitalization has fallen just under $7 billion, placing it 24th in overall rankings. Despite the price dip, activity on-chain indicates shifting investor strategies.
In the past 24 hours, the SHIB community burned over 13.4 million tokens, driving a 4,000% increase in burn rate. This burning mechanism aims to reduce circulating supply and elevate long-term value through scarcity. Meanwhile, investors continue withdrawing SHIB from exchanges, signaling growing interest in long-term custody.
Ethereum’s Top Holders Control Nearly Half the Supply
Ethereum’s top 10 wallets hold 49% of its total circulating supply, placing it third behind SHIB and USDT. Though ETH is a leading smart contract platform, such consolidation contradicts expectations of broader holder distribution. Large concentrations may impact liquidity and long-term price behavior.
Unlike SHIB, Ethereum’s core utility lies in DeFi, NFTs, and dApps, which distribute usage across millions of addresses. However, centralization among its largest holders still presents challenges in assessing actual decentralization levels. Retail participants continue monitoring these holdings for potential market signals.
While SHIB leads in whale control, ETH maintains greater infrastructure utility and developer activity. This contrast highlights different growth strategies and investor behaviors across digital assets. Ethereum’s consistent network demand may reduce the impact of whale holdings compared to SHIB.
PEPE’s top 10 holders control 39% of its circulating supply, ranking it behind SHIB and ETH in concentration levels. This metric indicates a relatively more distributed ownership base compared to SHIB’s dominant wallets. PEPE’s moderate whale concentration may reduce sudden liquidity shifts.
