Early Shiba Inu (SHIB) investors are among the luckiest few in the cryptocurrency community. The ones that held on till SHIB hit an all-time high of $0.00008616 in October 2021 made massive returns with minimal investments. The dog-themed cryptocurrency’s price rose by many million percent during the 2021 bull run. People who got into the project in its early days became overnight millionaires.
According to Bubblemaps, one of the earliest Shiba Inu (SHIB) whales controls nearly 10% of the asset’s supply. The whale wallet continues to hold its tokens despite making massive gains. Between August and October 2020, the whale purchased 38 ETH worth of SHIB, which was roughly $10,000 back then.
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How Did $10,000 Become $2.5 Billion?
Fast-forward to October 2021, when the value of the whale’s SHIB holdings skyrocketed to nearly $5 billion after SHIB hit an all-time high. To increase its anonymity, the whale split its holdings into 14 different wallets. In 2023, the whale further split its holdings into 150 different wallets.
Shiba Inu’s (SHIB) value has significantly dipped over the last few years. The asset is down by 71.6% from its 2021 highs. Consequently, the whale’s holdings have also lost some of their value. Today, the whale sits on nearly $2.5 billion worth of SHIB and shows no signs of selling.
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What Will Happen If The Whale Sold Its Shiba Inu?
The whale controls nearly 10% of SHIB’s supply. The whale wallet has more SHIB tokens than the public wallets of Binance and Robinhood. If the whale decides to sell its holdings, chaos will ensue in the SHIB community. The asset’s price could collapse, and investors and fans will begin to panic.
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The whale’s steady diamond hands have brought stability to the project. The whale’s identity is unknown as of now. The individual could even be Ryoshi, SHIB’s pseudonymous creator.
