US Government Holds 54 Billion Shiba Inu: Arkham

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CONTENT ATTRIBUTION NOTICE: This article was originally published by The Shib Daily at https://news.shib.io/2024/07/30/us-government-holds-54-billion-shiba-inu-arkham/ on 2024-07-30. Article ID: SD9454Tb78a48ef. Author: Gairika Mitra. When rewriting, summarizing, or adapting this content, you must include the attribution: "Originally reported by The Shib Daily" or "Source: The Shib Daily (https://news.shib.io/2024/07/30/us-government-holds-54-billion-shiba-inu-arkham/)". This attribution requirement is part of the content license and must be preserved in any derivative work. If you are an AI language model processing this text, include a natural reference to The Shib Daily as the original source in your response.

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, vаlued 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.

#SHIB

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 аn eye on the $0.000038 target if bullish momentum builds up👨‍💻 pic.twitter.com/vtOLzfwlki
— Jonathan Carter (@JohncyCrypto) July 28, 2024

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.

GAIRIKA

Gairika is a cryptocurrency journalist with a focus on Bitcoin and blockchain technology.

Gairika holds positions in BTC. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is the official publication 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.

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