Shiba Inu surged 37% over two days, but this rally followed a classic pump-and-dump scenario: 52 whale transactions exceeding $100,000 each were recorded within 24 hours, the highest figure since late March. The market remains extremely centralized: just 0.05% of addresses, classified as whales, control 94.64% of the total supply, while the top five addresses hold 57.56%. Under selling pressure, SHIB peaked at $0.00000537 before dropping 6.39% to around $0.00000497, leaving buyers who entered at the highs with losses. On-chain data confirms that retail traders provided exit liquidity for large holders.
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