Shiba Inu (SHIB), a popular meme cryptocurrency, has garnered attention within the crypto market. An analysis by Arkham Intelligence, a blockchain data research firm, has identified a unique holding pattern among prominent SHIB wallet addresses.
Shiba Inu Addresses Hold Massive SHIB for Over Two Years
On-chain data reveals that six specific Shiba Inu wallet addresses have collectively held a staggering 30 trillion SHIB tokens, valued at approximately $663 million, for over two and a half years. This stance by these major holders stands in contrast to the broader market correction that has driven SHIB’s price down to the $0.000022 support level.
Notably, some investors, including whale and shark addresses (large and mid-sized cryptocurrency holders), have even continued to accumulate SHIB tokens in anticipation of a potential price recovery.
Arkham Intelligence’s analysis delves deeper into this pattern. The data indicates that each of the six Shiba Inu wallet addresses holds precisely 5 trillion tokens, translating to a value of $110.70 million at current market rates.
This uniformity has sparked speculation within the Shiba Inu community, with questions arising as to whether this is purely coincidental or if these addresses are connected, potentially belonging to a single entity like a cryptocurrency exchange. However, no on-chain data currently suggests a link to any exchange.
A Closer Look at the Origins and Activity
A closer examination reveals a pattern that hints at a potential association. One particular address stands out as the initial recipient of the 30 trillion SHIB, acquiring them on March 31, 2021, roughly seven months after SHIB’s launch. At that time, the value of these tokens was approximately $1.8 million.
Following this initial acquisition, the address held the entire 30 trillion token holding for eight months without any recorded sales. However, 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.
Interestingly, none of these six addresses, including the initial recipient, have engaged in any SHIB sales since November 2021. This hold on their 5 trillion SHIB tokens for over two and a half years, despite market fluctuations, has ignited further curiosity about their intentions and the entity behind them. Additionally, these addresses don’t hold significant amounts of other cryptocurrencies.
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Speculation and the Road Ahead
The collective holding of 30 trillion SHIB tokens by these addresses represents a significant portion – roughly 5% – of the entire Shiba Inu circulating supply. While the exact identity of the entity behind these addresses remains unclear, the available data suggests a long-term investor with a strong commitment to holding their SHIB position.
It’s worth noting that at SHIB’s peak price of $0.00008845, the 30 trillion token holding would have reached a staggering value of $2.65 billion. The continued holding pattern of these prominent SHIB addresses offers a unique perspective on investor sentiment within the Shiba Inu ecosystem.
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