Nearly 95% of all Shiba Inu tokens are locked up by just 707 whale addresses, a concentration that combined with a growing liquidity deficit on exchanges could push the meme coin back into the top 25 cryptocurrencies by market cap, according to on-chain data.
The Whale Factor
Data shows that 94.5% of SHIB's circulating supply is held by 707 wallets. That level of centralization means a small group of holders controls the vast majority of tokens. When whales move, prices can swing hard. If those holders decide to hold rather than sell, the available supply on exchanges shrinks even further.
Liquidity Squeeze
At the same time, exchange reserves for SHIB are thinning. A liquidity deficit means fewer tokens are available for trading on platforms like Binance and Coinbase. In a market where demand stays steady or rises, that shortage can push prices up. The combination of whale dominance and low exchange supply creates conditions for a potential supply squeeze.
Path to Top 25
SHIB currently sits outside the top 25 cryptocurrencies by market capitalization. A rally fueled by the liquidity deficit could lift it back into that tier. The token has seen similar moves before, driven by retail interest and social media buzz. But this time the catalyst is structural — not hype. The question is whether the whales will act.
Whether the exchange deficit will actually trigger a rally is an open question. For now, traders are watching the on-chain data for any signs of whale movement or further drops in exchange reserves.
