Currently, one unknown wallet holds $5.4 billion worth of shiv, which can increase fears of market manipulation and undermine decentralization claims.
Despite whale concerns, Shiba Inu will expand its ecosystem in 2025 with its Shibarium, Shibaswap and Metaverse projects.
Shiba Inu, the second largest memecoin by market capitalization, is back in the spotlight. Not because of an impressive 19.7% increase in the last two weeks, but because of one shocking revelation.
According to new data from the well-known blockchain analytics platform, a single wallet holds 410 trillion Siv tokens, which accounts for 41% of the total supply. At current prices it is worth more than $5.4 billion.
No, the wallet holder’s identity remains unknown.
One wallet, 410 trillion shibe, billions worth
The SHIB priced at $0.00001368 and its market capitalization exceeds $8 billion. Memecoin has recently outperformed Dogecoin, which has increased by 5.3% over the past 24 hours compared to Doge’s 3.9%, but the community is becoming increasingly unsettling.
why? Because cryptocurrency projects that claim to be decentralized do not want a single entity that holds much of its supply.
Who is behind the whale’s wallet?
So far, the whales remain anonymous. However, three theories are circulating.
- An early investor who bought it before Shiv’s historic 2021 rally.
- A centralized exchange that holds shib on behalf of the user.
- Ryoshi has been founded long under the pseudonym Shiba Inu.
Ryoshi launched Shib in August 2020 and disappeared in May 2022, deleting all posts. He was famous for claiming that he did not have the Shiv Token himself to continue to truly decentralize the project.
Still, if the wallet belongs to an entity with Ryoshi or deep insider access, it raises questions about whether decentralization has been realistic to date.
Why is this a big deal for SHIB owners?
The wallet, which holds 41% of the token supply, is a red flag. If the whale decides to move, sell, or utilize these tokens in any way, it could send shockwaves through the Shiv market.
Such a movement is:
- Oversupply will crash Shiv’s price.
- It causes panic sales among retail investors.
- It undermines confidence in the decentralisation narrative of the project.
According to Coingecko, at the time of writing, Shiba Inu is the 23rd largest cryptocurrency by market capitalization.
Still, Shib’s ecosystem continues to expand
Despite concerns, Shiv’s basics have been improved. The project continues to build that ecosystem:
- Shibarium (Layer 2 Blockchain)
- Syvas wap (Dex)
- Metaverse Initiative
These developments could ultimately give Shib utility beyond the Memecoin label.
How will Shiv play in 2025?
So far, it was a mixed year.
- Q1: –41.4%
- Q2: –7.86%
- Previous Q3: +19.6%
Third quarter bounces have brought some easing, but Shiv’s recovery could be short-lived if whales’ wallets cause market disruption.
Final Thoughts
The fact that one wallet holds 41% of Shiba Inu’s supply is undoubtedly dangerous, regardless of who is behind it. Until the holder is confirmed or the token is distributed, SHIB holders have a reason to remain cautious, even if price momentum is built.
