Shiba Inu SHIBAnalysis: The Shiba Inu whale has held 103 trillion SHIB for five years, with a $10,000 investment once worth $5 billion
Odaily Planet Daily reports that blockchain analytics platform Bubblemaps revealed that a mysterious whale address cluster in the Shiba Inu (SHIB) ecosystem has continuously held about 103 trillion SHIB since 2020. It initially spent only 38 ETH (about $10,000 at the time) to complete the position, with the highest floating profit once exceeding the $50 billion valuation level, making it one of the most astonishing investment cases in crypto market history. According to Bubblemaps tracking, the whale initially bought 103 trillion SHIB through wallet address 0x1406, accounting for about 10% of the circulating supply at the time. As SHIB's price rose, the position was once valued at around $5 billion, and the cluster of addresses still holds assets worth over $2.5 billion, with a cumulative return of over 21,000 times. To reduce exposure risk, the whale split its assets into 14 addresses in November 2021. In January 2023, Bubblemaps first disclosed the SHIB whale cluster, which controlled about 10% of SHIB supply valued at over $1 billion, sparking community discussions about highly concentrated holdings in a single entity. Subsequently, the address cluster continuously migrated and split addresses. In September 2023, Bubblemaps discovered that its holdings were spreading from a few prominent wallets to more new addresses, seen as a typical move to reduce on-chain visibility. With the help of the Magic Nodes tool, Bubblemaps can still identify the relationships between these wallets. During the SHIB rally in early 2024, the whale's holdings once again surpassed $2 billion, with the number of wallets expanding to over 170 addresses. So far, the cluster still controls about 8.51% of the circulating SHIB supply, down from the initial 10%, but Bubblemaps says this mainly comes from normal on-chain transfers, with no large-scale sell-offs observed. Bubblemaps pointed out that this case demonstrates the significant value of on-chain transparency tools: an entity can hide large holdings by splitting wallets, but all fund transfers leave public on-chain records. This SHIB whale case has also become a typical example for observing the crypto market's "whale behavior, holdings concentration, and on-chain tracking."