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Shiba Inu is showing steady growth beneath the surface, with on-chain data indicating a notable improvement in holders and a decline in exchange balance.
This positive update comes even as its price consolidates, suggesting that holders are now looking beyond short-term price action and viewing Shiba Inu ($SHIB) from a long-term perspective. While it has dropped 13.7% since the start of the year, more people continue to buy, as reflected in the number of new wallets created each month.
Key Points
- The total number of Shiba Inu holders has now reached 1,558,200, reflecting a consistent rise in user participation.
- Over the past month alone, Shiba Inu has added around 8,500 new wallets, continuing a pattern of steady expansion.
- Large entities still control a significant portion of supply, with the top 10 $SHIB wallets accounting for 62.65% of the total supply.
- Long-term holding remains dominant, with 78% of wallets holding their positions for more than one year.
- Roughly 80.9 trillion $SHIB remains on trading platforms, but that figure has been trending lower.
Shiba Inu Holders Increase Steadily
Notably, X account @Shibizens, run by Shibarium admins and moderators, shared an update on on-chain activities in the Shiba Inu ecosystem. The post featured verified metrics as of March 2025 about holders, holder distribution, and exchange balance.
For context, it highlighted that the total number of holders has now reached 1,558,200, reflecting a consistent rise in user participation. Over the past month alone, the network has added around 8,500 new wallets, continuing a pattern of steady expansion.
A closer look at the distribution shows that large entities still control a significant portion of supply, with the top 10 wallets accounting for 62.65% of the total supply. The burn wallet holds the largest Shiba Inu tokens, with about 410,754,609,891,520 $SHIB. This represents 41% of the total supply.
Others in the top 10 category include exchange reserves. Data from Etherscan shows that Upbit holds the second-largest $SHIB bag with 59.3 trillion (5.93%). Notably, Robinhood, Binance, Crypto.com, Bithumb, and OKX fill in the other positions.
Long-term Holders Dominate, Exchange Reserve Dwindles
At the same time, long-term holding remains dominant, with 78% of wallets holding their positions for more than one year.
The report highlighted that exchange balances are also shifting. Roughly 80.9 trillion $SHIB remains on trading platforms, but that figure has been trending lower. This indicates that assets are being moved into private storage rather than kept readily available for sale.
“What’s Happening” for Shiba Inu
Notably, the post highlighted “what’s happening” with Shiba Inu. First, it noted that retail participation continues to build, with between 5,000 and 12,000 new wallets being added each month. Alongside this, large holders appear to be reducing their exposure to exchanges, possibly moving holdings into self-custody wallets for long-term holding.
Another notable factor is the amount of $SHIB removed from circulation. With around 410 trillion tokens burnt, the available supply has been permanently reduced. Additionally, network activity has also picked up slightly, suggesting that wallets are not dormant despite the broader market conditions.
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