US Government is the Biggest Whale of $SHIB Coin 🦊
In an unexpected development, the US Government has become one of the largest holders of Shiba Inu (SHIB), possessing about 55 billion tokens valued at approximately $740,000. These tokens weren’t bought as an investment but were instead seized during law enforcement operations. Additionally, the government holds a staggering 203,239 BTC, worth over $12 billion, making it the largest Bitcoin holder.
Currently, SHIB’s market is experiencing considerable turbulence. The token has seen a 7% decline over the past week and a drop of over 20% in the last month.
Key bearish indicators include:
In-the-Money Percentage: Decreasing, which suggests fewer profitable positions for holders.
Network Growth: Slowing, potentially affecting long-term value.
Whale Activity: On the rise, possibly leading to greater volatility and price fluctuations.Given these factors, the SHIB market is undergoing significant uncertainty.
Investors should remain cautious and take these developments into account when making investment decisions.
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