On-chain data suggests that Shiba Inu is one of the altcoins with a high concentration of wealth among its largest addresses. According to on-chain analytics firm Santiment, the top 10 largest Shiba Inu addresses hold a significant portion of the total supply.
This high concentration of supply raises concerns about the potential risks associated with wealth centralization in the network, as a small number of entities could have a large influence over the asset's price and stability.
In comparison, other altcoins like Polygon also show similar trends in wealth concentration within their top addresses.
Overall, the data highlights a critical issue for Shiba Inu and similar altcoins that could impact investor confidence and market dynamics.
