Shiba Inu (SHIB) price surges over 10% as large wallets dominate supply and exchange inflows spike

Shiba Inu (SHIB) rallied more than 10% in a single day, reaching $0.000005 and pushing its market cap to $29.3 billion. Data shows that 764 large wallets, representing just 0.05% of all addresses, control 94.64% of the token’s supply, with the five biggest wallets holding $2.76 billion worth of SHIB.

On‑chain analytics from CryptoQuant revealed a 97% drop in exchange net‑flow, with over 226 billion SHIB returned to exchanges in a 24‑hour period, a classic sign of impending sell pressure. Despite this, the token continued to climb, aided by a weekly burn of 2.98 billion SHIB – the highest in about a year – and real‑world adoption such as Emirates Airlines adding SHIB as a payment option.

The broader meme‑coin rally also saw other projects like PEPE, BONK and FLOKI gain attention, but SHIB’s price action, supply concentration, and heightened burn activity have made it the focal point of the current altcoin season.