On-chain data reveals that approximately 707 large wallets control 94.49% of Shiba Inu’s circulating supply, representing approximately $2.36 billion in tokens, while retail investors hold less than 2%. TradingView technical analysis indicates a potential trend reversal with a bullish RSI signal near the local bottom and a 39% upside target toward the 200-day moving average, corresponding to a $3.50 billion market capitalization. If this move materializes, SHIB could climb from 31st to 24th place in the global market cap rankings, overtaking Global Dollar, Tether Gold, Cronos, PayPal USD, Avalanche, Sui and Hedera. The extreme concentration of tokens could create a supply deficit on exchanges that might accelerate price increases once large market orders appear.
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