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The wallet sat quiet for almost two years. No trades, no movement — just billions of Shiba Inu tokens parked on-chain while the market did what it wanted. Then, on March 15, it all moved at once.
A Long Wait That Ended In The Red
Blockchain data from Arkham Intelligence shows that a wallet identified as “0xbOe8” sent roughly 14.5 billion SHIB to crypto exchange OKX last Sunday.
The tokens first moved to an intermediary wallet before landing in OKX’s hot wallet. When the dust settled, the investor recovered just $84,640 — a fraction of the $506,830 originally spent.
The math is brutal. That works out to a loss of about $422,190, or 80% of the entire investment. For nearly two years, the wallet showed almost no activity.
On-chain records indicate the only movements during that period were small spam transfers — nothing that looked like active trading or any attempt to cut losses early.
The original purchase was made on Binance in March 2024, when SHIB was deep in a rally that pushed the token to a high of around $0.000045. Buyers at that level were betting the momentum would carry further. It didn’t.
Bought At The Peak, Held Through The Drop
Since that March 2024 high, SHIB has shed roughly 82% of its value. The token now trades around $0.0000063. At its lowest point this past February, the price had fallen to about $0.0000051 — an 85% drop from where this investor got in.
Holding through that kind of decline takes either conviction or inertia. Based on the on-chain record, this wallet did nothing for close to two years. No partial sells, no rebalancing. The position just aged while the price eroded.
When the wallet finally moved on Sunday, the token ended up at OKX — widely seen as a signal that a sale was imminent or already executed, given that hot wallets on exchanges are typically used for active trading.
The Flip Side Of The Same Coin
Not every SHIB holder has a story like this one. Reports note that some early buyers turned small initial amounts into life-changing returns, though those cases largely belong to an earlier era of the token’s history.
The meme coin launched in 2020, and its biggest gains came in 2021, when prices spiked by several thousand percent.
Featured image from Pethelpful, chart from TradingView
