Shiba Inu has posted solid gains since the start of 2026, climbing 32% over the period. However, a closer look at on-chain metrics reveals something worth paying attention to: the top 10 wallets are holding 63% of total SHIB supply, which signals pretty heavy concentration.

More notably, a single wallet dominates the landscape, controlling 41% of all tokens—valued at roughly $3.3 billion. This kind of concentration inevitably raises questions about market dynamics and potential price volatility if major holders decide to make moves. Whether this represents strategic long-term holding or something else entirely depends on monitoring these addresses over time.