• Shiba Inu creator’s wallet, possibly belonging to Ryoshi, holds $2.5 billion in SHIB tokens.
  • SHIB price drops 3.4%, down 72.56% from its all-time high in November 2021.
  • Despite the dip, SHIB has gained 29.35% in the last 30 days, with a $14.31B market cap.

The Shiba Inu community is buzzing after a possible discovery of the creator’s wallet. The wallet holds $2.5 billion in SHIB tokens, and rumors suggest it belongs to Ryoshi, Shiba Inu’s mysterious founder. This news comes as SHIB’s price has dropped 3.4% in the past 24 hours. Will this revelation affect the meme coin’s future?

1/ We found a Shiba Inu whale holding $2.5 billion in $SHIB 🤯

He owns 10% of the supply across 150 addresses

Here's his story 🧵 ↓ pic.twitter.com/nH1AfDm3Pw

— Bubblemaps (@bubblemaps) November 19, 2024

The Mysterious 0x1406 Wallet and Massive Holdings

Blockchain platform Bubblemaps recently pointed to wallet 0x1406 as a possible match for Ryoshi. This wallet holds 10% of the total SHIB supply. For years, the wallet has stayed untouched, holding a staggering $2.5 billion worth of SHIB tokens. Despite market fluctuations, the SHIB supply has remained stable in this wallet.

Ryoshi, who created Shiba Inu, disappeared from social media without a trace, much like Bitcoin’s creator Satoshi Nakamoto . The wallet has distributed tokens across 150 addresses, suggesting a strategic approach to preserving privacy. Though the wallet hasn’t sold much SHIB, its size and influence are undeniable.

A significant player entered the SHIB scene in 2020, purchasing 103 trillion SHIB tokens for just 38 ETH. By 2021, the wallet’s value had ballooned to $5 billion. To spread risk and keep a low profile, the holder moved funds across 14 wallets. Today, 10% of the SHIB supply remains split across 15 states.

SHIB’s Price Action and Market Performance

In the past 24 hours, SHIB dropped by 3.4%, now trading at $0.00002434. This is a sharp decline from the all-time high of $0.00008845 in November 2021.

Back then, the whale’s holdings were valued at $5 billion, but SHIB has since fallen 72.56%. Despite these struggles, SHIB has gained 29.35% in the last month. Its market cap now sits at $14.31 billion, placing SHIB in 11th position in market rankings.

The Relative Strength Index (RSI) is at 59.42, signaling that bulls still hold control. However, SHIB may face further support testing around $0.000022. Traders and investors are waiting to see if the token can bounce back.

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