Gairika Mitra
The U.S. government wallet currently holds over 54 billion Shiba Inu (SHIB) tokens, valued at approximately $894,270, as per data from blockchain analysis firm Arkham Intelligence. The platform also shows that the government’s holdings include other major cryptocurrencies such as BNB, BUSD, AUSDC, DAI, TRX, and UNI.
Arkham also reveals the top Shiba Inu holders. The highest amount of SHIB is stored in the token’s burn address, which holds 410,419,396,908,990.06 SHIB, worth roughly $6.6 billion. This figure accounts for 41.04% of the total circulating supply of SHIB currently in circulation.
In the second position is a Binance cold wallet, with its SHIB holdings of 37,427,761,884,293.88, valued at around $614.19 million.
A Robinhood cold wallet sits in third place, which currently holds 36,653,245,785,281.97 SHIB, equivalent to around $601.48 million.
Bullish Signs
A market technician with the X handle @JohncyCrypto expressed a positive outlook on a potential trend reversal for SHIB, suggesting that a breakthrough past the moving average and resistance levels could trigger a significant surge for the token.
“Shiba Inu is trading in a descending channel, suggesting a potential trend flip. A break above the MA 50 and resistance might spark a major rally. Keep an eye on the $0.000038 target if bullish momentum builds up,” he tweeted.
As of 3.48 p.m. EST on Tuesday, Shiba Inu is trading at $0.00001619, down by 3.43% in the last 24 hours, according to CoinMarketCap data.
Read More
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Gairika holds positions in BTC. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
