An $8,000 purchase of Shiba Inu which appreciated to $5.7 billion in around 400 days has been hailed as ‘the greatest individual trade of all time’.
An analysis of on-chain data suggests an alternative view, backed by an anonymous source that has revealed the identity of the mysterious trader.
Etherscan shows that the person of interest first acquired Shiba Inu (SHIB) on August 1st. This places diamond hands at the genesis of the memecoin, one day before the token lists on CoinMarketCap. Significant SHIB purchases which follow suggest an investor of great faith or potentially one involved with Ryoshi – the adopted pseudonym of the co-founding team.
Purchasing activity on the future billion-dollar address stopped in October as the user seemingly hibernated over the winter months, but in February 2021, the investor started to move tokens again. This time the whale transferred significant lump sums of SHIB to another address.
The token exodus also coincides with a flurry of activity at Shiba Inu as the project created a brand-new Twitter account and webpage, indicating that it was busy on a number of fronts.
Who is the mystery person?
The birth of Shiba Inu holds a great many parallels to the emergence of bitcoin. Both are the stories of founders operating under a pseudonym, acquiring vast sums of their own cryptocurrency before seemingly disappearing – or at least trying to.
In the case of Shiba Inu’s Ryoshi, that circle of trust appears to have been too wide to keep the secret hidden forever, and the disappearing act not entirely effective. Our source states that the mystery person who controls the $5.7 billion wallet is Neyma Jahan, the founder of Unification.
Our source also provided evidence that there are multiple other third parties who also believe that Jahan is the mystery person behind the billion dollar wallet.
Jahan is an experienced founder who has participated in the creation of numerous meme coins, shitcoins, and other startups which could uncharitably be classed as pump and dump coins. During his time working in various meme projects, Jahan has developed a reputation among his fellow whales as a particularly shrewd and financially aggressive operator.
Other clues about Jahan seem to fit the profile of our mystery person too. From Jahan’s Twitter account, we can quickly establish that he was involved or interested in crypto from at least as early as July 2018 – around the same time the wallet first became active.
We also know that Jahan’s company, Unification, is still working in partnership with Shiba Inu even today. The most recent tweet from the Unification Twitter account on October 15th confirmed that Shiba Inu was using Unification’s oracle data to power their NFT sale.
Shiba Inu’s layer-2 chain, which is currently in development and is known as Shibarium, is a problem the Unification founder is believed to be personally tackling. This further strengthens the link between Shiba Inu, Unification and Jahan.
Following our tip-off we reached out to Jahan for a comment on our story. At time of press, he has yet to respond.
A Shiba Inu timeline
April 7th, 2018. The first activity on the ‘$5.7 billion’ wallet takes place. The address is used multiple times for a series of small Ethereum transfers until activity ceases a few months later on June 12th, 2018.
August 1st, 2020. The wallet becomes active once more when a number of trades are made to swap Ethereum for wrapped Ethereum (WETH).
The wallet holder swaps their newly acquired WETH for Shiba Inu. For $56.63 of WETH the wallet holder acquires 70,144,278,680.072 SHIB which is worth around $5 million today. Over the next couple of months, the wallet holder makes multiple repeated purchases of SHIB, adding to their bags.
August 2nd. CoinMarketCap data for Shiba Inu begins the day after the wallet holder’s first purchase of Shiba Inu. The CoinMarketCap listing is announced on Twitter at the same time – corroborating the timeline.
September 6th. The single biggest purchase of Shiba Inu is made by the wallet holder, when $3,219 of WETH purchases 24,256,546,086,219.27 SHIB, today worth $1.7 billion.
October 7th, 2020. The wallet holder makes their last purchase of Shiba Inu. This time they purchase 20,790,192,060,353.28 SHIB at around $2,000. That SHIB is now valued at $1.5 billion.
February 1st, 2021. The official Shiba Inu Twitter account becomes active.
February 7th. Shiba Inu launches a new website.
February 17th. The wallet owner begins the first of their final transfers over the course of the next three months. This time the transfers are outgoing to address 0x0b925b1dc9b9b9709092bbccbfb32f14db81981d. Today, this second wallet holds $86 million Shiba Inu (SHIB).
April 18th. The final outgoing transfer on the ‘$5.7 billion wallet’ occurs, and it then goes dark.
April 20th, 2021. The price of Shiba Inu hits a new all-time high of $0.000003768 in the first significant price move since its creation.
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