thecryptobasic.com
A blockchain analytics platform has uncovered the activity of an early Shiba Inu whale whose investment has grown exponentially but continues to hold.
Bubblemaps, a surveillance resource that uses visual representations to analyze blockchain data, recently revealed the details of this whale’s activity, dating back since the launch of Shiba Inu.
The investor, initially purchasing SHIB during its launch phase in 2020, has managed to turn $10,000 worth of Ethereum (ETH) into a staggering $2.5 billion. However, in an interesting development, the whale has held onto his holdings despite the astronomical gains.
The Shiba Inu Whale’s Entry Point
Bubblemaps confirmed that Shiba Inu launched as a fair-market cryptocurrency on July 31, 2020. During its early phase, the deployer’s wallet held roughly 50% of the token’s supply.
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
Shortly after, a wallet address with the initials “0x1406” began accumulating SHIB tokens, according to on-chain data. Notably, between August and October 2020, the whale purchased 103 trillion SHIB tokens for just 38 ETH, worth $10,000 at the time.
Remarkably, today, that initial $10,000 investment is worth over $2.5 billion, marking a jaw-dropping 250,000x return. Bubblemaps argued that this was one of the best investments in the crypto space.
At one point during Shiba Inu’s price surge, the value of these holdings peaked at $5 billion. However, instead of cashing out, the whale diversified his holdings across multiple wallets. This was likely a precautionary measure to enhance security and maintain privacy.
Wallet Splits and HODL Culture
Meanwhile, in November 2021, the whale began distributing his holdings across 14 separate addresses. This move occurred shortly after Shiba Inu dropped from the $0.00008845 peak in late October 2021.
Bubblemaps first spotlighted the address in January 2023. However, shortly after the spotlight, the whale further dispersed the assets into 150 wallets. In September 2023, the surveillance platform claimed to have received an anonymous message from the supposed owner, citing security risks.
Notably, Bubblemaps stressed that this individual remains one of the most significant investors in the SHIB ecosystem, currently controlling around 10% of the token’s total supply.
Despite the volatility of the crypto market and numerous opportunities to sell at a profit, the whale has opted to hold onto his massive stake. Such commitment has triggered debates about who the investor is and his motivations.
Shiba Inu Lead Responds
Shiba Inu lead developer Shytoshi Kusama responded to the revelation with caution. Kusama emphasized that no one knows the identity of this whale.
No one knows this mysterious person and should be weary of anyone who can't PROVE through wallet movement they're the person. Don't believe the hype. @bubblemaps
— Shytoshi Kusama™ (@ShytoshiKusama) November 19, 2024
For context, some have claimed to own the wallets, while Bubblemaps previously suggested it could belong to Ryoshi, SHIB’s anonymous founder. Kusama urged the community to be skeptical of anyone claiming to be the investor unless there is verifiable proof through wallet activity.