The Shiba Inu community has erupted in controversy following claims made by data analytics group, Shibburn, regarding the ownership of SHIB tokens. Seeking to address ongoing confusion, Shibburn recently made clarification on the spread of misinformation surrounding project ownership and control.
In their post on X platform, the Shibburn team emphasized that no single entity wields authority over SHIB or acts as an official representative. However, they went on to voice reservations about what seemed a deliberate effort to push a contrary narrative of centralized leadership.
Shibburn revealed facing pushback in light of the Shiba Inu Association’s announcement, which reportedly stirred dissent within the community. The team claimed that they were being accused of neglecting the supposed “vision” established by the anonymous founder Ryoshi.
Furthermore, Shibburn dropped an intriguing revelation – that Ryoshi allegedly holds $1 billion worth of SHIB, over 10% of the total supply. This disclosure starkly opposes the prior belief that Ryoshi owned no personal tokens.
Shibburn hinted at uncertainty around interactions with Ryoshi and questioned the authenticity of some communications. They implied the possible existence of additional unknown wallets beyond those known, suggesting a lack of transparent ownership.
Ryoshi’s Alleged $1B Shiba Inu Holdings
This claim traced back to on-chain data provided by analytics platform Bubble Maps in January. Bubble Maps previously maintained that wallets tied to Ryoshi controlled 10% of circulating SHIB then valued at over $1 billion.
Over the next few months, 0x1406 accumulated an astounding 103 trillion SHIB tokens with only 38 ETH, which was valued at $10,000 during that period. This remarkable trade generated an astonishing 100,000x return, highlighting the meteoric ascent of Shiba Inu.
As SHIB’s market capitalization surged to $40 billion in 2021, it’s alleged that 0x1406 held assets worth $5 billion in a single wallet. In response to this, the assets in the wallet were split into several smaller wallets, and these new wallets have remained inactive since their creation.
Bubble Maps diligently monitored the movement of these wallets and noticed an effort to disperse funds into smaller wallets, presumably to avoid detection. This raised concerns with Bubble Maps, who questioned the need for such secrecy and called for more transparency.
However, in response, Shiba Inu marketing figure Lucie promptly denied these accusations, deeming them misinformation. Lucie contended the wallets did not connect to Ryoshi, having formed after 2021’s massive growth spiked.
While Ryoshi has yet to publicly confirm or dismiss ownership, Shibburn’s disclosures have roused debate amongst investors. Only more transparency may resolve the ownership mystery dividing the project’s followers.