Dogecoin News Today: The "Whales" Holding Shiba Inu's Fate Have 62% of the Supply

Shiba Inu, the cryptocurrency that started as a meme coin and was dubbed the "Dogecoin Killer," has captured the attention of investors and traders alike since its launch in August 2020. Initially trading at $0.000000000117, a $100 investment would have grown to over $10 million by 2025, showcasing the explosive potential of meme-based cryptocurrencies. The coin's early success was driven by its association with the popular Dogecoin meme, celebrity endorsements such as Elon Musk's tweets, and its adoption on major exchanges like Coinbase and Binance. By 2021, Shiba Inu had surged by over 88 million percent, reaching a peak market capitalization of $7.3 billion [1].

The meteoric rise of Shiba Inu also led to personal success stories, such as that of a friend of YouTube influencer “Zero Waiting,” who initially invested $2,000 in the coin. Within a day, the investment had grown to $40,000, but the investor sold out due to immediate profits, missing the subsequent surge that would have turned the investment into $120 million had it been held until its all-time high in October 2021 [4]. This story highlights the volatile nature of meme coins and the importance of holding through market fluctuations to capture long-term gains.

To sustain its growth, Shiba Inu’s developers have taken steps to expand its ecosystem. In 2023, the project launched Shibarium, a Layer 2 blockchain built on Ethereum, offering faster transactions and lower gas fees compared to Ethereum’s mainnet. This expansion aims to attract more developers and users to the Shiba Inu ecosystem, fostering the development of decentralized applications (dApps), non-fungible tokens (NFTs), and other blockchain-based innovations. Additionally, the developers have introduced new tools, staking models, and sponsored gas fees to incentivize participation and growth in Shibarium [1].

Another strategic move to drive adoption is the launch of “SHIB: The Metaverse,” a virtual world where Shiba Inu is the default currency. The metaverse features over 100,000 plots of virtual land and aims to create a broader ecosystem that can support decentralized applications and services. This initiative could potentially draw more developers and investors into the Shiba Inu network, increasing demand for the token and enhancing its utility [1].

Despite these developments, Shiba Inu still faces challenges. The coin has lost over 80% of its value from its 2021 peak and more than 40% year to date as of August 2025. The decline is attributed to broader market conditions, including high interest rates and reduced network activity. The concentration of token ownership is also a concern, with the top 10 wallets controlling approximately 62% of the circulating supply. If these “whale” investors decide to increase their buying or burn tokens, it could significantly impact the price and potentially lead to another surge in value [1].

Looking ahead, analysts suggest that a decline in U.S. interest rates could provide a tailwind for Shiba Inu and other meme coins. While the Federal Reserve has not yet cut rates in 2025, expectations are growing that one or two cuts may occur as inflation cools. This could lead to renewed investor interest in volatile assets like Shiba Inu, especially given the project’s expanding ecosystem and ongoing network improvements [1]. However, potential investors should remain cautious, as Shiba Inu is still a highly speculative asset and not suitable for risk-averse investors.

Source: [1] 4 Reasons to Buy Shiba Inu Before 2026 (https://www.fool.com/investing/2025/08/25/reasons-to-buy-shiba-inu-before-2026/) [2] Is Shiba Inu a Millionaire Maker? - Yahoo Finance (https://finance.yahoo.com/news/shiba-inu-millionaire-maker-155500233.html) [3] Dogecoin Killer: Why We Might Have Been Wrong About ... (https://www.barchart.com/story/news/34251540/dogecoin-killer-why-we-might-have-been-wrong-about-shib-as-new-challenger-layer-brett-emerges) [4] Influencer Shares How a Friend Lost Making $120 Million ... (https://watcher.guru/news/influencer-shares-how-a-friend-lost-making-120-million-in-shiba-inu) [5] If You'd Invested $100 In Shiba Inu (SHIB) 5 Years Ago, Here's ... (https://finance.yahoo.com/news/youd-invested-100-shiba-inu-100600648.html)