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

MEXC Launches 'Trading Takes Two' Campaign to Showcase AI Capabilities

MEXC is launching a month-long campaign titled 'Trading Takes Two' to showcase how MEXC AI supports users in their trading journey.

user avatarTenzin Dorje

HTX Research Highlights Risks in Stock-Linked Memecoins

HTX Research's report highlights the risks of stock-linked memecoins, focusing on misleading high APY figures and the importance of understanding market conditions.

user avatarBayarjavkhlan Ganbaatar

HTX Research Unveils Insights on Stock-Linked Memecoins

HTX Research has released a report on stock-linked memecoins, analyzing their market structure and growth potential.

user avatarMohamed Farouk

BAI Builds Closed-Loop Infrastructure for the Agent Economy

BAI is building a closed financial loop for the agent economy, integrating models and agents to facilitate seamless transactions.

user avatarDiego Alvarez

BAI Sets New Industry Record with 151 Trillion Tokens Daily Throughput

BAI has set a new industry record with a daily throughput of over 151 trillion tokens, marking a significant increase since its launch.

user avatarElias Mukuru

Justin Sun Prize Launched to Transform Scientific Research

The Justin Sun Prize has been established to redefine scientific rewards in the AI era, offering up to $1 million for breakthroughs in fundamental disciplines and machine formal verification.

user avatarKenji Takahashi

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.