Shiba Inu Creator’s Wallet Possibly Revealed, SHIB Price Drops 3.4%

The blockchain analysis platform explained that the 0x1406 wallet owner, who is probably Ryoshi, has remained calm under pressure and retained the SHIB holding since the beginning. 

Key Notes

A wallet linked to Shiba Inu’s mysterious creator Ryoshi may have been discovered with $2.5 billion in SHIB tokens.The wallet's SHIB holdings have remained largely untouched for several years.SHIB value has declined by 3.4% in the last 24 hours.

The wallet belonging to Ryoshi, the creator of Shiba Inu SHIB $0.000024 24h volatility: 4.3% Market cap: $14.32 B Vol. 24h: $1.96 B , the second-largest meme coin by market capitalization in the digital asset space, has possibly been found. Currently, it is holding a massive $2.5 billion in SHIB tokens. The wallet hasn’t sold much SHIB, and the holding has been mostly the same in the past few years.

Blockchain analysis platform Bubblemaps hinted in a post on X that there is a possibility of the wallet, which owns a whopping 10% of the SHIB supply across 150 addresses, belonging to Ryoshi. The mysterious creator of Shiba Inu vanished after retiring from social media following a page from the rulebook of Bitcoin creator Satoshi Nakamoto.

Shiba Inu made its debut on July 31, 2020, and the deployer wallet 0xb8f2 held half of the meme coins in total supply. However, between August and October 2020, a significant player entered the SHIB price action, purchasing a monumental 103 trillion SHIB tokens for just 38 ETH ETH $3 096 24h volatility: 1.4% Market cap: $371.74 B Vol. 24h: $29.90 B worth close to $10,000 at that time.

Once the investment rose to $5 billion, the wallet 0x1406 consolidated its investments into a single wallet and then proceeded to distribute the funds across 14 different wallets in November 2021. The wallet has refrained from selling its holdings, and now, 10% of the SHIB supply is distributed across 15 states.

Since 2021, the total investment of the Shiba Inu whale wallet has surged to $2.5 billion, a profit of 25,000,000%. Bubblemaps highlighted how these assets are being managed across a large number of assets so as to decrease risk and maintain the anonymity of the wallet owner. The blockchain analysis platform explained that the 0x1406 wallet owner has remained calm under pressure and retained the SHIB holding since the beginning.

Shiba Inu (SHIB) Price Analysis

Shiba Inu has dropped 3.4% in the past 24 hours, and the digital asset is currently trading at $0.00002434, down 72.56% from its all-time high of $0.00008845 witnessed in November 2021, when the “0x1406” wallet owner’s holding were at their peak value of $5 billion.

In the past week, SHIB has dropped 0.44%, being outperformed by its competitors. However, the cryptocurrency has printed 29.35% in gains in the past 30 days while skyrocketing 180.18% since November 2021. Also, with a market cap of $14.31 billion, SHIB has climbed to the 11th position in the market while its trading volume stands at $1.20 billion.

The Relative Strength Index (RSI) for the Shiba Inu price action reads a value of 59.42, which means that the bulls are overall in control of the SHIB price action, but the gradient of the line suggests that the cryptocurrency will continue to retest the nearest support at the $0.000022 price level.

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