Shiba Inu Tops Altcoin Market Under Heavy Whale Influence
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 AltcoinOn-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.📊 Here are the percentage of total supply holdings of the top 10 largest wallets for four of the largest altcoin market caps in crypto:😟 Shiba Inu $SHIB: 61.3% of Supply😐 Ethereum $ETH: 46.1% of Supply😎 Chainlink $LINK: 33.1% of Supply😎 Toncoin $TON: 32.8% of Supply… pic.twitter.com/RY5uUcbKI8— Santiment (@santimentfeed) February 7, 2025 The Pros and Cons of Whale Influence on SHIBSantiment 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 TONWhale 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.Never Miss a Beat in the Crypto World!Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more. Daily Get real-time crypto news, market insights, and blockchain updates. Weekly Stay updated with major trends, funding news, and price analysis. Monthly Receive a detailed report with market analysis and expert predictions.