A detailed analysis by blockchain analytics platform Bubblemaps has revealed the existence of a Shiba Inu (SHIB) whale holding $2.5 billion worth of the meme-inspired cryptocurrency. This entity, which manages 10% of SHIB's total supply, operates from approximately 150 addresses, leading to speculation about its identity and origin.
Shiba Inu was launched on July 31, 2020, as a fair launch project with equal opportunities for participation. At launch, the deployer wallet, which was 0xb8f2, held approximately half of the total supply.
Gamza KhanzadaevHowever, between August and October 2020, another major player appeared on the scene: "0x1406." This address got its hands on 103 trillion SHIB tokens — that is, 10% of the supply — for just 38 ETH, which was worth only $10,000 at the time. SHIB has seen a meteoric rise, and that initial investment has grown by 25,000,000%, now worth over $2.5 billion.
The activity in the wallet shows how the assets are being strategically managed. As the value of SHIB skyrocketed to $5 billion, "0x1406" consolidated its holdings into one address before splitting it into 14 separate addresses in November 2021.
Could it be Ryoshi?
Later, the holdings were split into about 150 addresses, a way of trying to reduce risk and perhaps keep things anonymous. Bubblemaps pointed out that these transactions are easy to spot with the right blockchain visualization tools, even if they do not show up on standard bubble maps.
The report shows that "0x1406" has managed its wallet in a sophisticated way and has remained calm under pressure. It appears that the wallet has maintained most of its SHIB holdings since the beginning.
Speculation has arisen that this wallet may belong to Ryoshi, the mysterious creator of Shiba Inu, who retired from social media in 2021, mirroring Bitcoin creator Satoshi Nakamoto's approach to anonymity.
Dan Burgin
Alex Dovbnya