A wallet associated with the U.S. government has transferred more than 54 billion Shiba Inu (SHIB) tokens to a newly created wallet. Popular blockchain analytics platform Arkham Intelligence indexed the transaction on December 3. Arkham announced the move on X, saying: “Warning: The U.S. Government is transferring $1.5 million worth of Shiba Inu tokens.”
Specifically, the U.S. government transferred 54,897,092,549 SHIB tokens to the Ethereum wallet "0x995". After the transaction was completed, the sending wallet associated with the U.S. government no longer held any SHIB tokens. The receiving wallet currently has a cryptocurrency portfolio worth $33 million and has retained these assets.
Notably, the U.S. government acquired these SHIB tokens by seizing the assets of Alameda Research, an affiliated trading firm of the now-defunct cryptocurrency exchange FTX. The seizure was part of a wider forfeiture operation involving more than $700 million in assets due to legal issues at FTX and Alameda. SHIB tokens were one of the various digital assets seized in the process.
Arkham data shows that the receiving wallet was newly created. Its first transaction occurred recently, when it received $1.061 million worth of AEGRO tokens from the same wallet that transferred SHIB tokens. In less than two hours, the wallet also received other crypto assets from addresses affiliated with the US government, including 4,815 ETH (about $17.9 million), 13.58 million BUSD (133 million), and 631,959 POWR (221,000).
While it is unclear whether the U.S. government has sold its SHIB holdings, any identified exchanges or over-the-counter (OTC) addresses associated with the transaction suggest the government may still hold the tokens.
Shiba Inu Price Analysis: Is a 130% Increase Possible?
Cryptocurrency analyst Rony Kapoor (@LearnRony) shared a comparative chart analysis of Dogecoin (DOGE) and Shiba Inu (SHIB) on X, and said: "Will SHIB's next leg up be like DOGE? Shib looks like a large cup-and-handle pattern, just like the one Dogecoin formed before turbocharging. Shiba Inu will rise sooner or later!!!"
DOGE’s chart shows a clear “cup with handle” pattern — a bullish continuation pattern that often precedes a significant price breakout. DOGE’s cup with handle pattern formed around $0.21, and after a period of consolidation, the coin rebounded to a peak of around $0.48. This move represents a massive 128% gain from the breakout point.
Likewise, SHIB’s chart suggests a possible cup-with-handle formation, with the structure still developing. Currently trading around $0.000030, resistance is identified at $0.000038 — the expected cup-with-handle resistance. If SHIB follows a similar trajectory to DOGE, a successful breakout could target a price level of around $0.000087, based on the proportional growth observed in DOGE’s previous moves.
Technical indicators such as Fibonacci retracement levels support this analysis. SHIB is currently trading below the 0.618 Fibonacci level at $0.000032. Upon breaking above this level, SHIB could target the 0.786 Fibonacci level at $0.000038. Subsequent targets include the yearly high of $0.00004569 in March. Notably, the all-time high of $0.00008854 lines up well with the projected target of the cup-with-handle pattern identified by Kapur.
