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Shiba Inu: What shrinking whale holdings reveal about SHIB’s future

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Top whale wallets that hold Shiba Inu [SHIB] across cryptocurrency exchanges have decreased their holdings since the end of May

According to the on-chain data provider, this cohort of SHIB investors currently holds 168 trillion SHIB coins, representing 29% of the memecoin’s total circulating supply of 589 trillion SHIB.Generally, when the amount of coins that these top wallets hold on exchanges decreases, it is a long-term bullish signal, hinting at the possibility of a price uptick.

However, the trend in the SHIB market suggests otherwise. Its price has declined significantly in the past few weeks.

 

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