#BounceBit A Shiba Inu whale owns 10% of the SHIB supply, multiplying its investment by 250,000 times

The mysterious investor gained more than 250,000 times the return on their initial investment of just $10,000, which is now worth over $2.5 billion.

On-chain data has revealed that a large unknown investor holds more than 10% of the Shiba Inu token supply, raising new concerns about the distribution of the second largest memecoin in the world.

A mysterious Shiba Inu whale

SHIB

owns more than 10% of the total token supply across 150 addresses.

Despite their holdings reaching a peak value of over $5 billion, the whale has held onto their SHIB coins since 2020, according to a post on X from November 19 made by the blockchain data firm Bubblemaps, which stated:

Between August and October 2020, a new player entered the scene: 0x1406 bought 103T $SHIB (10% of the supply) for only 38 ETH. At that time, 38 ETH was worth $10,000. Today, 103T $SHIB is worth over $2.5 billion.

Shiba Inu Whale. Source: Bubblemaps

Since October 2020, the investor has achieved a return on investment of over 250,000 times their initial investment of just $10,000, which equates to more than $2.5 billion today, possibly making it the largest operation in history, according to Bubblemaps.