Shiba Whales: Over 2 Years of Hodling Massive 5% Share of Circulating Supply

Shiba Inu (SHIB) holders maintain significant ownership with six prominent wallet addresses accumulating a combined 30 trillion SHIB for over two years, despite market corrections. Arkham Intelligence analysis reveals a unique holding pattern, with each address holding precisely 5 trillion SHIB, raising questions about their potential connection and the entity behind them.

Shiba Inu Whales Hold 5% of Circulating Supply for Over Two Years

New York, July 15, 2023

Shiba Inu (SHIB), a popular meme cryptocurrency, has attracted significant attention in recent years. A comprehensive analysis conducted by Arkham Intelligence, a leading blockchain data research firm, has uncovered a remarkable pattern among prominent SHIB wallet addresses.

Massive SHIB Holdings

Six specific Shiba Inu wallet addresses have collectively accumulated and held a staggering 30 trillion SHIB tokens for over two and a half years. At current market prices, this equates to an approximate value of $663 million. This substantial holding stands out amidst a broader market correction that has pushed SHIB's price to its current support level of $0.000022.

Despite the prevailing market conditions, some investors, including whale and shark addresses, continue to accumulate SHIB tokens, anticipating a potential price recovery.

Uniform Holdings

Arkham Intelligence's analysis reveals that each of the six Shiba Inu wallet addresses holds precisely 5 trillion tokens, corresponding to a value of $110.70 million. This uniformity has sparked speculation within the Shiba Inu community, raising questions about whether these addresses are connected or belong to a single entity, such as a cryptocurrency exchange. However, current on-chain data does not indicate any direct links to exchanges.

Origins and Activity

Upon further investigation, a pattern emerges that suggests a potential association between the six addresses. One particular address stands out as the initial recipient of the entire 30 trillion SHIB on March 31, 2021. At the time, these tokens were worth approximately $1.8 million.

Following this initial acquisition, the address held the entire 30 trillion token holding for eight months without any recorded sales. Between November 4th and 6th, 2021, the address distributed 5 trillion tokens to each of the other five addresses while retaining a remaining 5 trillion for itself.

Since November 2021, none of the six addresses, including the initial recipient, have engaged in any SHIB sales. This unwavering hold on their 5 trillion SHIB tokens for over two and a half years has piqued the curiosity of analysts and investors alike. Notably, these addresses do not hold significant amounts of other cryptocurrencies.

Speculation and Future Prospects

The collective holding of 30 trillion SHIB tokens by these addresses represents a significant portion – approximately 5% – of the entire Shiba Inu circulating supply. The identity of the entity behind these addresses remains unknown, but the available data paints a picture of a long-term investor with a strong conviction in the potential of SHIB.

If SHIB were to reach its previous peak price of $0.00008845, the 30 trillion token holding would have been worth an impressive $2.65 billion. The ongoing holding pattern of these prominent SHIB addresses provides valuable insights into investor sentiment and the long-term prospects of the cryptocurrency.

As the Shiba Inu ecosystem continues to evolve, it remains to be seen how these massive holdings will impact the price dynamics and future trajectory of the asset. However, one thing is certain: the presence of such large-scale investors is a testament to the enduring popularity and potential of Shiba Inu in the cryptocurrency market.