This Shiba Inu Whale Turned $10K Into $2.5B and Continues to HODL

A detailed analysis by blockchain analytics platform Bubblemaps has uncovered the activity of an early Shiba Inu whale whose investment has grown significantly.

A deep dive analysis by blockchain analytics platform Bubblemaps has revealed the activity of an early Shiba Inu whale whose investment has grown exponentially but continues to HODL.

The whale in question has amassed a total of $2.5 billion in SHIB spread across 150 addresses — an impressive 10% of the canine-themed crypto’s total supply.

Tracking the Journey: Turning $10,000 Into $2.5 Billion

Shiba Inu, the world’s second-largest meme coin, was launched in July 2020 as a fair launch project with equal opportunities for participation. At the time of launch, the deployer wallet, which was 0xb8f2, held approximately half of the total SHIB supply.

However, another key player emerged on the scene between August and October 2020, Bubblemaps analysis reveals. This particular address acquired 103 trillion SHIB tokens for a mere 38 ETH, valued at only $10,000 at the time.

As the price of Shiba Inu appreciated dramatically since the purchase, the whale’s initial investment enjoyed a jaw-dropping 250,000-fold return — now valued at $2.5 billion.

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 boldly claims that this is “possibly the greatest trade in history.”

It’s important to note that whales holding large caches can significantly influence a crypto's price movement. If the SHIB whale decides to liquidate a significant portion of his holdings, he could create substantial bearish pressure on the meme coin.

During Shiba Inu’s price surge, the value of these holdings peaked at an incredible $5 billion. But instead of cashing out, the whale diversified his holdings across multiple wallets, likely a strategic move to reduce risk and perhaps maintain anonymity.

Shiba Inu Developer’s Response

Interestingly, some have claimed to own the wallets of this mysterious whale, and Bubblemaps previously suggested it could belong to Shiba Inu’s pseudonymous Ryoshi. Notably, Shiba Inu lead developer Shytoshi Kusama retired from social media in 2021, just like Bitcoin’s creator, Satoshi Nakamoto.

However, Kusama urged the community to be skeptical of anyone claiming to be the owner without any verifiable evidence through wallet activity.

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

According to Kusama, no one knows the true identity of this mega whale.