The US government appears to have nearly 54 million SHIBs in its wallet.

In addition to holding SHIB, the U.S. government’s wallet also holds large amounts of Bitcoin, Ethereum, USDT, and WBTC.

Apart from this, the wallet also includes other well-known cryptocurrencies including BNB, BUSD, AUSDC, DAI, TRX, and UNI.

The platform further describes the U.S. government’s investment portfolio as extremely diversified, holding different cryptocurrencies and coins in its portfolio.

The ongoing U.S. presidential election is currently being referred to as the “crypto election.” As Harris and Trump vie for important crypto connections to attract the masses, the above developments could have a significant impact on the economic and political narrative in the United States.

The US government holding of SHIB could play a key role in significantly improving the outlook for SHIB. The coin is currently facing a bear market phase which has intensified recently. SHIB is trading in a descending channel and a breakout above MA 50 could spark a new trading rally to $0.000038.

SHIB is trading in a descending channel, which suggests a possible trend reversal. A breakout above MA 50 and the resistance could trigger a sharp rally.

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