The Crypto Basic has made a significant discovery regarding Shiba Inu, revealing that six addresses have collectively held onto 30 trillion SHIB tokens, worth $663 million, for an impressive two and a half years without selling any of them.
Despite the current market correction that has caused Shiba Inu to drop to the $0.000022 support level, investors have shown remarkable resilience by holding onto their SHIB tokens. Furthermore, certain whale and shark addresses have continued to acquire more tokens in anticipation of a potential rebound.
In light of these ongoing market trends, the analysis conducted by The Crypto Basic in collaboration with Arkham Intelligence has identified an interesting pattern among the top SHIB holders. Specifically, data indicates that each of the six Shiba Inu wallet addresses possesses exactly 5 trillion tokens, which, based on current exchange rates, amounts to $110.70 million.
This discovery has sparked curiosity within the community, leading many to speculate whether this occurrence is coincidental or if all the addresses are somehow connected to a single entity, possibly an exchange. However, there is no on-chain data that supports the notion of an affiliation with an exchange.
Upon closer examination of the addresses, it becomes apparent that there is a discernible pattern that confirms their association with the same entity. One of the addresses initially acquired the 30 trillion Shiba Inu tokens on March 31, 2021, seven months after the launch of SHIB. At that time, the value of the assets was $1.8 million, but it has since skyrocketed to an astonishing $663 million.
After obtaining the 30 trillion tokens, this genesis address held onto them for eight months without selling any. Then, from November 4 to 6, 2021, the wallet distributed 5 trillion tokens to each of the other five addresses, while retaining a portion of 5 trillion for itself.
Since November 2021, none of the six addresses, including the genesis address, has sold any tokens, maintaining ownership of the 5 trillion SHIB for over two and a half years despite the volatility and fluctuations in the market. This consistent behavior raises further speculation about their intentions and the entity behind them.
Additionally, it is worth noting that none of the addresses hold a significant amount of any other cryptocurrency, and there have been no transactions made since November 2021. By collectively holding 30 trillion tokens, these addresses possess 5% of the entire circulating supply of Shiba Inu.
At present, it remains challenging to determine the entity linked to these addresses. However, the data suggests the involvement of an early investor who is committed to holding their position. Notably, at SHIB’s peak value of $0.00008845, the 30 trillion tokens would have been valued at an impressive $2.65 billion.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. The opinions expressed in this article are solely those of the author and do not reflect the views of The Crypto Basic. Readers are encouraged to conduct their own research before making any investment decisions, and The Crypto Basic is not responsible for any financial losses incurred.
