Billionaire Shiba Inu Holder: Back in Action

In cryptocurrency, the terms ‘paper hands’ and ‘diamond hands’ are used widely. Paper hands refer to emotional traders that will sell a token or coin the second it begins to change in price.

The opposite of that is diamond hands, someone who will hold a token or coin through good times and bad. This SHIB token holder is a prime example of someone with diamond hands.

An anonymous wallet holder purchased $8000 SHIB in August 2020. The user never touched the wallet and one year later the tokens are now worth over $5bn.

It is so remarkable that the user did not take any profits or sell their allocation throughout all the price changes. So remarkable that in fact many believed the owner of the wallet must have lost access.

There was even speculation that the owner lost their private keys or passed away. Those rumors have all now been shattered as the wallet looks to be active again.

On 2 November 2021, the wallet did its first transaction in over 200 days. Since then it has done a series of transactions including ones with Shiba Inu.

Over $2bn worth of Shiba Inu has been transferred out of the wallet to four unknown empty wallets. There is no message or reasoning behind this. Many speculate that they might begin to sell these tokens, which could impact the price of the Shiba Inu market.

One year ago this mystery user bought enough Shiba Inu they could have purchased a small car with it. Now they can buy a small country. 

Stories like this are one of the reasons that many new meme coins appear every day and users are always looking for a new coin that will explode in value like Dogecoin and Shiba Inu have done.

It is likely every government worldwide is looking for the owner of this wallet, and will be hoping to collect taxes on them should they sell. In several countries, owners who have held tokens long enough would be expected to pay capital gains tax on the profits. 

Shiba Inu continues to succeed and has hit multiple new all-time highs in the last month. It is unknown how long this coin will continue to be in the spotlight as new exchanges are rumored to be adding support for the token.

It is unlikely now that this coin will make any more billionaires from holding $8000 worth of the token.

In the meantime, BTC, ETH, and DOGE remain some of the hottest currencies to use if you are interested in betting at crypto casinos such as 1xBit, Bitcasino, or FortuneJack.


Updated: 11/05/2021 — 22:00