SHIB Price at $0.00001158 as 129T Tokens Sit in 45 Wallets

Key Points:

• 129 trillion SHIB tokens are held by just 45 addresses, raising questions about supply control.
• SHIB trades in a narrow range, showing low volatility as market sentiment remains cautious.
• Analysts watch $6.7B support and $10B resistance for SHIB’s next major price move.

Shiba Inu (SHIB) was trading at $0.00001158 at press time, showing a 0.35% decline in the past 24 hours and an 8.31% decrease over the past week. The SHIB price has remained within a narrow range between $0.00001142 and $0.00001229, indicating a period of low volatility and indecision in the market.

Daily trading volume stands at $127.4 million, showing active interest despite the short-term decline. The recent downtrend reflects a broader trend in SHIB, which has shown lower highs and lower lows over the past several weeks.

129 Trillion SHIB Held in Just 45 Wallets

Recent data from IntoTheBlock reveals that 128.99 trillion SHIB tokens—nearly 129 trillion—are currently held by only 45 addresses. These addresses are classified under the “investors” category, referring to wallets that hold between 0.1% and 1% of SHIB’s total circulating supply. This classification does not include the largest whales, who hold over 1%.

SHIB’s total supply exceeds 589 trillion tokens, so the fact that over 20% is concentrated in just 45 addresses raises questions about distribution. These addresses could include cold wallets of centralized exchanges, smart contracts tied to the Shiba Inu ecosystem, or large private holders. 

However, ownership indicators do not distinguish between exchange-held assets and individual holdings, making the exact breakdown unclear.

Key Support and Resistance Levels in Focus

Technical analysts have identified important price zones based on SHIB’s market cap. The support zone lies around a $6.7 billion market cap, a level that previously held during sell-offs, including in April 2024. At that time, when the market cap dropped to around $6.08 billion, the SHIB price rebounded shortly after.

On the upside, resistance sits near the $10 billion market cap level. During May 2024, SHIB struggled to move past this area, leading to a retracement. If the Shiba Inu token breaks above this resistance again, it may trigger further upside momentum.

Community members such as “Pepe is friend” maintain a positive outlook. Suggesting the current level may not last, the user posted,  

“Stay confident and keep holding or even buy more SHIB.”

Source: X

However, this view is not widely agreed upon as traders remain cautious amid ongoing price pressure. Shiba Inu remains one of the most widely held altcoins, but its price action reflects broader uncertainty in the crypto market.