Billionaire Shiba Inu Stash: Founder's Alleged Secret Hoard Raises Alarms

Despite claiming to own no SHIB tokens, an analysis by Bubblemaps suggests that the anonymous founder of the Shiba Inu meme coin, "Ryoshi," may possess 10% of the total supply, worth approximately $1.8 billion. Blockchain data indicates that Ryoshi has attempted to conceal their holdings by dividing them into smaller amounts across multiple wallets. This raises concerns about potential market manipulation and erodes the concept of community ownership.

Mystery Surrounds Shiba Inu Founder's Alleged Billion-Dollar Stash

Despite repeated claims to the contrary, compelling evidence suggests that the enigmatic founder of the popular meme coin Shiba Inu, known only as "Ryoshi," may be in possession of a significant portion of the cryptocurrency's total supply.

According to a comprehensive analysis conducted by crypto forensics firm Bubblemaps, Ryoshi may hold up to 17% of SHIB tokens, an amount valued at approximately $1.8 billion at current market prices. This substantial holding raises concerns among investors regarding the transparency and potential market manipulation within the Shiba Inu ecosystem.

Blockchain Evidence Unravels Potential Concealment

Bubblemaps' investigation revealed that Ryoshi's SHIB holdings are spread across numerous wallets, indicating an effort to conceal the true extent of their fortune. Blockchain data shows that the funds have been repeatedly split into smaller amounts, creating a complex network of transactions.

In a recent report, Bubblemaps stated that over 150 wallets were involved in a highly sophisticated wallet splitting process, with the affected cluster still representing 10% of the total SHIB supply.

Founder's Alleged "Vision" and Anonymity Draw Scrutiny

Shiba Inu's development team has repeatedly faced questions about Ryoshi's intentions and the veracity of their claims. In a statement, head of marketing Lucie highlighted the misuse of anonymous blockchain data and the spread of false narratives by individuals seeking attention.

However, the Shibburn account, dedicated to tracking the burning of SHIB tokens, has expressed skepticism about Ryoshi's purported lack of personal holdings. The account alleges that the founder may own additional wallets and questions the accuracy of their public statements.

Founder's Secret Stash Raises Red Flags for Investors

The discovery of a founder retaining a significant token stash can undermine the perception of a project as community-owned and controlled. It also raises the potential for market manipulation, with investors fearing that the founder could artificially inflate the token's price by limiting supply.

In the case of SHIB, a sudden sell-off of Ryoshi's alleged holdings could have a devastating impact on the token's value, leaving other investors with worthless assets.

Bubblemaps' Investigation Spurs Anonymous Response

Bubblemaps' initial report in January 2023 identified a billion-dollar SHIB wallet cluster, prompting an anonymous direct message on Twitter requesting that the firm cease its investigation. The message expressed concern about potential targeting and asked for privacy.

Bubblemaps initially dismissed the message as a potential troll but has since reconsidered, believing that it may have originated from Ryoshi using an alternate account. This response suggests that the founder may be actively involved in concealing their financial interests.

Ryoshi's Past Claims Contradict Current Evidence

Adding to the controversy, Ryoshi's previous statements contradict the findings of Bubblemaps' analysis. In a now-deleted blog post from 2021, Ryoshi claimed to own no SHIB tokens. However, the token's historical price data reveals that it was trading at extremely low levels at the time of the statement.

Vitalik Buterin's Donation and Ryoshi's Retreat

A significant event in SHIB's history was the unsolicited donation of over $7 billion worth of SHIB to Ethereum founder Vitalik Buterin in 2021. Buterin donated a portion of this to a COVID relief fund and burned the rest, reducing the circulating supply of SHIB and boosting its price.

Shortly after this incident, Ryoshi relinquished control of the project and disappeared from public view. However, if Bubblemaps' analysis is correct, it suggests that the founder may still be actively involved in the token's ecosystem.

Conclusion

The evolving mystery surrounding Ryoshi's alleged billion-dollar SHIB stash has cast a shadow over the Shiba Inu cryptocurrency. Despite repeated claims to the contrary, compelling evidence suggests that the founder may hold a substantial portion of the token's supply.

This revelation raises concerns about transparency, market manipulation, and the true intentions of the project's creators. As the meme coin market regains momentum, it remains to be seen how this controversy will impact the future of Shiba Inu and the broader cryptocurrency landscape.