Summary
The founder of the Shiba Inu meme coin, Ryoshi, is suspected to hold 10-17% of the total SHIB supply, worth $1.8 billion. Attempts to conceal holdings have been made by splitting the stash across multiple wallets. There are concerns about market manipulation and insider control. Bubblemaps analysis suggests Ryoshi may be moving funds to hide their ownership. Ryoshi has denied owning any SHIB tokens in the past. The founder’s actions raise red flags for investors and may impact the token’s value.
Key Points
1. The enigmatic Shiba Inu meme coin founder “Ryoshi” may be sitting on 10% – 17% of the total SHIB supply, worth $1.8 billion to $4 billion, despite claiming to own no SHIB tokens publicly.
2. Blockchain data suggests that Ryoshi has attempted to conceal their SHIB holdings by splitting up the stash into smaller amounts across multiple wallets, with over 150 wallets used in one instance.
3. There are concerns about the potential market manipulation and community ownership issues that arise from a founder holding a significant stash of tokens, as well as the ongoing efforts to obscure the amount of SHIB controlled by Ryoshi.