Shiba Inu’s price has stalled, yet a major wallet movement has shifted market attention. A long-dormant holder controlling a large share of supply has resurfaced. The transfer raised fresh questions about liquidity and future price direction. The now track wallet activity more closely than short-term price action.
Massive SHIB Wallet Activity Raises Questions
Blockchain data showed that a wallet holding over 16% of total Shiba Inu supply moved 800 billion tokens to CoinMENA. This marked the first activity from the address in a long period. The wallet, labeled “$13752购买103万亿枚SHIB” on Arkham, has drawn attention for years due to its size.
Reports indicate the owner acquired 103 trillion SHIB in 2020 for only $13,700. At the 2021 peak, those holdings reached a valuation of $9.1 billion. Observers described this as one of the most profitable meme coin trades recorded. Others suggested the purchase may have involved insider-level timing, though no evidence confirms this claim.
Despite a drop in value to $588 million, the wallet still controls 16.2% of total supply. Data shows the recent transfer equals roughly $4.9 million, or just 0.8% of holdings. Analysts said the scale does not suggest panic selling. Instead, they linked the move to profit-taking or liquidity provision.
Identity Speculation and Market Impact
Speculation continues around the wallet’s ownership. Some analysts believe it may belong to Ryoshi, the anonymous creator who exited the project in May 2022. However, there is no direct evidence linking the address to Ryoshi. Market commentators noted that Ryoshi promoted decentralization and avoided control, which conflicts with such a large holding.
Other theories suggest the wallet could belong to an early private investor or a market-making entity. Regardless of identity, analysts stressed the risk tied to concentration. Holding every sixth token in circulation gives the wallet significant influence over liquidity conditions.
At the time of writing, SHIB was trading near $0.000006358, down by 0.66%. Price action shows limited volatility despite broader market shifts. The token remains down 84% from its December 2024 levels. However, it has recovered 20% over the past two months.
Market participants now shift focus away from price charts. Analysts emphasized that wallet activity could signal future moves. They stated that monitoring this “SHIB ghost” address may offer clearer insight into upcoming market behavior.
Source: https://coinpaper.com/16733/shiba-inu-whale-awakens-as-800-billion-shib-moves-to-exchange
