SHIB holder growth and exchange supply drop support bullish watch
On-chain data for **SHIB** shows improving wallet participation, even though price momentum remains limited. SHIB holders have reached **1,558,200**, with roughly **+8,500 new wallets over the past month** (reported monthly additions ~5,000–12,000).
Supply concentration is still high: the **top 10 SHIB wallets hold 62.65%** of circulating supply, including a **burn wallet with 410T+ SHIB (~41%)**. Exchange-linked balances identified via Etherscan are concentrated among **UPbit, Robinhood, Binance, Crypto.com, Bithumb, and OKX**.
Investor behavior shifts toward retention. Long-term holders (1+ year) rose to about **78%**, while **SHIB exchange reserves fell to ~80.9T**, suggesting tokens are moving off exchanges and may reduce near-term sell pressure. Separately, burn activity remains active, with **~410T SHIB removed from circulation** and a reported **burn-rate jump (~633% in an hour)**.
For traders: this is a constructive **SHIB** narrative (wallet growth + lower exchange supply + high long-term hold ratio), but the articles also note that **SHIB price action has not yet confirmed clear upside momentum**.
Neutral
Both summaries point to constructive on-chain signals for **SHIB**—rising wallet counts, higher long-term holder retention (~78%), a drop in exchange reserves (~80.9T), and continued burn activity (reported ~633% burn-rate jump; ~410T removed). These factors often reduce near-term sell pressure and can support a bullish narrative.
However, the latest article explicitly notes that price performance remains muted and that there is not yet clear upside momentum. That mismatch between improving fundamentals and still-limited market follow-through keeps the expected impact on **SHIB**’s near-term price as neutral rather than fully bullish.