Transparency is becoming rarer in the ever-evolving crypto realm, especially with notable players making strategic maneuvers to maintain their anonymity. An intriguing case in point is the SHIB token’s anonymous founder. A recent analysis by Bubblemaps, a data visualization platform on X, revealed an intricate strategy of the SHIB founder dispersing assets to maintain obscurity.
6 months ago, we exposed all the wallets from the owner of $SHIB, holding over $1 billion
— Bubblemaps (@bubblemaps) September 28, 2023
Their reaction? A desperate attempt to vanish once more.
Here's the latest trick you have to watch out for ↓ 🧵 pic.twitter.com/NOStICiakX
The story has its roots in 2020. The SHIB token, which boasted a fair launch on August 1, allowed everyone to purchase the token at an identical rate, devoid of any presale benefits. As per Bubblemaps, a wallet address, denoted as 0x1406, made astute purchases of SHIB within the maiden hour of its trading. By October 2020, this wallet had successfully hoarded 103 trillion SHIB, equivalent to 10% of its supply.
From August to October 2020, 0x1406 accumulated 103T $SHIB (10% of the supply) for 38 $ETH.
— Bubblemaps (@bubblemaps) January 20, 2023
38 ETH was worth $10k back then
103T is worth over $1 billion today
Probably the greatest trade of all time (100,000x)! pic.twitter.com/jczSHzEpvp
To put it in perspective, this was procured for a mere 38 ETH, valued at around $10k at that period. Fast forward to the present, and this asset has soared to a worth exceeding $1 billion. This meteoric rise, a staggering 100,000x, is arguably one of the most strategic trades ever.
Shortly after this monumental accumulation, there was a noticeable shift in the founder’s strategy. Two primary wallets, the initial 0x1406 and another 0xc1ca started dispersing their holdings. The SHIB tokens were being systematically funneled into 20 pristine wallets, meticulously ensuring the gradual depletion of the primary wallets.
The rationale behind such a move, as per Bubblemaps, is all about perception. Removing these behemoth wallets from the direct gaze substantially alters the token’s distribution optics, potentially making it more enticing to potential investors. This rearrangement presents an illusion of a more distributed and decentralized holding, a crucial factor for many crypto enthusiasts.
As enticing as the crypto world, it underscores vigilance’s importance. Platforms like Bubblemaps are allegedly instrumental in shedding light on these complex maneuvers, ensuring transparency, and fostering informed decision-making.
The SHIB founder’s endeavors to seemingly vanish highlight the ongoing tussle between the desires for privacy and transparency in the digital asset landscape. While the founder’s intentions remain speculative, Bubblemaps’ insights certainly offer a fascinating glimpse into the intricate chess game of crypto finance.
