As a seasoned crypto investor with a knack for unearthing hidden gems, I find myself both astounded and intrigued by the tale of the Shiba Inu whale, 0x1406. This mystery figure, who entered the scene back in 2020 with a single purchase of 103 trillion SHIB for an initial investment of mere thousands, has since amassed a staggering fortune worth over $2.5 billion today.
A massive investor, owning approximately 10% of the total Shiba Inu (SHIB) cryptocurrency, has been identified. This individual or entity controls an astounding $2.5 billion worth of the meme-inspired digital currency, distributing their holdings across around 150 different accounts in a connected network.
Shiba Inu, introduced in 2020 as an open-access launch for all users, had approximately half of its total cryptocurrency supply reserved within the deployer wallet initially. Subsequently, based on blockchain analysis by Bubblemaps, a large investor, or ‘whale,’ emerged between August and October of 2020.
A whale with the wallet ID 0x1406 purchased an astonishing 103 trillion SHIB tokens, representing about 10% of the total supply, using 38 Ether, which was approximately worth $10,000 at the time.
Due to a surge in the value of this cryptocurrency, the 103 trillion tokens are now valued at more than $2.5 billion. This places Shiba Inu among the top 11 most valuable digital currencies by total market worth, known as market capitalization.
1/ Discovered a peculiar entity, identified as a Shiba Inu whale, possessing an impressive $2.5 billion worth of $SHIB tokens.
— Bubblemaps (@bubblemaps) November 19, 2024
0x1406’s investment portfolio significantly increased over time, ultimately soaring to a record high of $5 billion during the 2021 crypto market surge. As attention focused on the meme-inspired cryptocurrency, this significant investor gradually dispersed their holdings from one account and distributed them across a network of fourteen distinct accounts instead.
At first, the group caught notice on Bubblemaps, causing the whale to divide its substantial Shiba Inu (SHIB) holdings from 14 addresses into approximately 150 separate ones. However, they continue to maintain control over an impressive quantity of SHIB.
8/ It’s quite striking that this whale has retained a large portion, close to the entirety, of his Shiba Inu (SHIB) tokens since his initial acquisition – he owns about 10% of the total SHIB supply!
— Bubblemaps (@bubblemaps) November 19, 2024
During the timeframe reported by CryptoGlobe earlier this year, it was observed that whales maintained their investments in SHIB, while some other investors began to lose hope due to a high degree of FUD (Fear, Uncertainty, and Doubt). It’s worth noting that the majority of funds were held by wallets containing over 1 billion SHIB.
According to Santiment’s analysis, the proportion of Shiba Inu cryptocurrency that’s in wallets holding less than a billion SHIB is currently at its smallest since November 2022.
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2024-11-20 19:08