Shiba Inu creator’s wallet, possibly belonging to Ryoshi, holds $2.5 billion in SHIB tokens.
SHIB price drops 3.4%, down 72.56% from its all-time high in November 2021.
Despite the dip, SHIB has gained 29.35% in the last 30 days, with a $14.31B market cap.
The Shiba Inu community is buzzing after a possible discovery of the creator’s wallet. The wallet holds $2.5 billion in SHIB tokens, and rumors suggest it belongs to Ryoshi, Shiba Inu’s mysterious founder. This news comes as SHIB’s price has dropped 3.4% in the past 24 hours. Will this revelation affect the meme coin’s future?
https://twitter.com/bubblemaps/status/1858919223919083798?t=Ob6NLm6fSpc9HofYvXXnAQ&s=19 The Mysterious 0x1406 Wallet and Massive Holdings
Blockchain platform Bubblemaps recently pointed to wallet 0x1406 as a possible match for Ryoshi. This wallet holds 10% of the total SHIB supply. For years, the wallet has stayed untouched, holding a staggering $2.5 billion worth of SHIB tokens. Despite market fluctuations, the SHIB supply has remained stable in this wallet.
Ryoshi, who created Shiba Inu, disappeared from social media without a trace, much like Bitcoin’s creator Satoshi Nakamoto. The wallet has distributed tokens across 150 addresses, suggesting a strategic approach to preserving privacy. Though the wallet hasn’t sold much SHIB, its size and influence are undeniable.
A significant player entered the SHIB scene in 2020, purchasing 103 trillion SHIB tokens for just 38 ETH. By 2021, the wallet’s value had ballooned to $5 billion. To spread risk and keep a low profile, the holder moved funds across 14 wallets. Today, 10% of the SHIB supply remains split across 15 states.
SHIB’s Price Action and Market Performance
In the past 24 hours, SHIB dropped by 3.4%, now trading at $0.00002434. This is a sharp decline from the all-time high of $0.00008845 in November 2021.
Back then, the whale’s holdings were valued at $5 billion, but SHIB has since fallen 72.56%. Despite these struggles, SHIB has gained 29.35% in the last month. Its market cap now sits at $14.31 billion, placing SHIB in 11th position in market rankings.
The Relative Strength Index (RSI) is at 59.42, signaling that bulls still hold control. However, SHIB may face further support testing around $0.000022. Traders and investors are waiting to see if the token can bounce back.
The post SHIB Price Dips 3.4% Amid Possible Reveal of Shiba Inu Creator’s Wallet appeared first on Crypto News Land.
