Mysterious Investor Holds 10% of Shiba Inu Tokens, Raising New Concerns

user avatar

by Giorgi Kostiuk

2 years ago

Onchain data has revealed that an unknown large investor is holding over 10% of the Shiba Inu token supply, raising newfound concerns around the distribution of the world’s second-largest memecoin.

The Story of a Major Shiba Inu Investor

A mysterious 'whale' owns over 10% of Shiba Inu tokens across 150 addresses. Valued at over $5 billion at peak, the investor has held their SHIB coins since 2020. As per Bubblemaps, between August and October 2020, an entrant purchased 103T SHIB for 38 ETH, equivalent to $10k then, now valued at over $2.5 billion.

Scenarios for Shiba Inu's Price

Since Oct. 2020, the investor earned a 250,000-fold return on $10,000, which may be one of the greatest trades in history. If the whale sells a significant portion of SHIB, it could put downward pressure on the token’s price.

Prospects for SHIB and DOGE

Shiba Inu’s price could rise if capital rotates from its main rival, Dogecoin. SHIB has underperformed DOGE, aided by Elon Musk’s DOGE promotion. However, SHIB's low RSI indicates a potential market shift.

Large token holdings by a single investor pose potential risks for Shiba Inu's market. However, there is investor confidence in the token's future.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Bitcoin Core Release Candidate Fixes SQL Connection Pool Deadlock

The latest release candidate addresses a deadlock issue in the SQL connection pool, crucial for node reliability.

user avatarElias Mukuru

Bitcoin Core's October 22 Release Candidate Enhances Wallet Security

The October 22 release candidate of Bitcoin Core introduces important changes to enhance wallet security by bounding fee estimates.

user avatarDiego Alvarez

Solana Launches Create for Branded Yield-Bearing Tokens

On October 22, Solana launched Create, a platform designed to simplify the issuance of branded yield-bearing tokens.

user avatarKenji Takahashi

Key Themes and Expectations for Ripple's Upcoming Conference

Key themes for Ripple's upcoming conference include payments, tokenization, stablecoins, and XRP utility, aiming to provide insights into financial relationships and technical settlement processes.

user avatarGustavo Mendoza

World Discusses Challenges in Transaction Risk Screening

World discusses the complexities of transaction risk screening, highlighting the need for thorough verification of participants and payment destinations.

user avatarRajesh Kumar

Ripple's Swell and Apex Conference Scheduled for October

Ripple's Swell conference is scheduled for October 27-29 in New York, merging with the Apex developer gathering to discuss payments, tokenization, stablecoins, and XRP utility.

user avatarMaria Fernandez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.