Ryoshi’s Wallet Holding $2.5 Billion in SHIB Tokens Possibly Identified
The wallet associated with Ryoshi, the creator of Shiba Inu (SHIB), may have been identified, holding approximately $2.5 billion in SHIB tokens. This wallet has remained stable, with minimal selling activity over the past few years.
Blockchain analysis platform Bubblemaps indicated on X that this wallet, which owns 10% of the total SHIB supply across 150 addresses, is likely linked to Ryoshi. The anonymous creator stepped back from social media, drawing parallels to Bitcoin's creator Satoshi Nakamoto.
Shiba Inu launched on July 31, 2020, with the deployer wallet 0xb8f2 initially holding half of the total supply. From August to October 2020, a significant investor acquired 103 trillion SHIB tokens for about 38 ETH, valued at nearly $10,000. As the investment grew to $5 billion, the wallet 0x1406 consolidated its assets and subsequently distributed them among 14 wallets in November 2021, maintaining its holdings without selling.
As of 2021, the Shiba Inu whale wallet's total investment has risen to $2.5 billion, reflecting a profit of 25,000,000%. Bubblemaps noted that the owner manages these assets across multiple wallets to mitigate risk and preserve anonymity. The owner of wallet 0x1406 has consistently held onto their SHIB since inception.
Shiba Inu (SHIB) Price Analysis
Shiba Inu experienced a 3.4% decline in the last 24 hours, currently trading at $0.00002434, down 72.56% from its all-time high of $0.00008845 in November 2021 when the value of the 0x1406 wallet peaked at $5 billion.
In the past week, SHIB fell by 0.44%, underperforming competitors but showing a 29.35% increase over the last 30 days and a rise of 180.18% since November 2021. With a market capitalization of $14.31 billion, SHIB ranks 11th in the market, and its trading volume is $1.20 billion.
Photo: TradingView
The Relative Strength Index (RSI) for Shiba Inu stands at 59.42, indicating bullish control over price action. However, the trend suggests potential retests of the nearest support level at $0.000022.