In a notable discovery by The Crypto Basic, on-chain data shows six Shiba Inu addresses have collectively held 30 trillion SHIB tokens worth $663 million for two and a half years without selling a dime.
Despite the ongoing market correction that has pushed Shiba Inu to the $0.000022 support, investors have demonstrated resilience, holding onto their SHIB tokens. In addition, some whale and shark addresses have also continued to procure more tokens in anticipation of a rebound.
Amid persistent market trends, The Crypto Basic analysis from Arkham Intelligence has identified a notable pattern among top SHIB holders. Specifically, data shows that six Shiba Inu wallet addresses each possesses precisely 5 trillion tokens, valued at $110.70 million based on current exchange rates.
SIX SHIB Addresses
This discovery has piqued the curiosity of the community, leading market participants to speculate whether this occurrence is merely coincidental or if all the addresses are affiliated with a single entity, particularly an exchange. However, no on-chain data points to an affiliation with an exchange.
Critical Look at the Shiba Inu Addresses
Interestingly, further examination of the addresses indicates a discernible pattern confirming their association with the same entity. One of the six addresses initially acquired 30 trillion Shiba Inu tokens on March 31, 2021, seven months after the launch of SHIB. At that time, the assets were valued at $1.8 million but have since appreciated to a staggering $663 million.
After receiving the 30 trillion tokens, this genesis address held onto the tokens for eight months without offloading any of them. Then, from Nov. 4 to 6, 2021, the wallet sent 5 trillion tokens to each of the other five addresses, while retaining a share of 5 trillion for itself.
None of the six addresses, including the genesis address, has sold any tokens since November 2021, maintaining ownership of the 5 trillion SHIB for over two and a half years amid market volatility and fluctuations. This consistent behavior raises further speculation regarding their intentions and the entity behind them.
Moreover, in addition to their substantial SHIB holdings, none of the addresses holds a significant amount of another cryptocurrency, and none has made any transactions since November 2021. By collectively holding 30 trillion tokens, these addresses are in possession of 5% of the entire Shiba Inu circulating supply.
As of now, determining the entity linked to these addresses remains challenging. However, the data suggests the involvement of an early investor with a commitment to holding their position. Notably, at SHIB’s peak value of $0.00008845, the 30 trillion tokens were valued at an impressive $2.65 billion.
