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The United States government holds a large amount of Shiba Inu (SHIB) coins. Both retail and institutional investors have shown interest in SHIB, but the government’s involvement adds an unexpected twist.
U.S. Government Holds 54.89 Billion Shiba Inu (SHIB) Worth $729,581 in Crypto Wallet
According to Arkham Intelligence, the US government has 54,897,000,000 (54.89 billion) Shiba Inu coins in its blockchain wallet. This wallet also contains over 100 other digital assets totaling $12.43 billion. Among these, Shiba Inu stands out for its significant quantity. With SHIB priced at $0.00001329, the government’s holdings are worth around $729,581. Shiba Inu coin ranks as the 19th-largest asset in this wallet by value.
U.S. Government’s Crypto Portfolio Overview. Source: Arkham Intelligence US Government’s SHIB Holdings Could Trigger Market Impact, But No Sale Announced
Bitcoin is the most valuable asset in the wallet, valued at $12.04 billion.
However, the Shiba Inu coin holdings are significant enough to raise questions. If the U.S. government decides to sell its 54.89 billion SHIB, it could impact the market. A similar event occurred recently when the German government sold over $2 billion worth of Bitcoin, leading to a price drop to $57,000.
The US government has not announced plans to sell its Shiba Inu coin holdings. However, the potential for such a move has sparked discussions about the possible market effects.
Shiba Inu Coin Market Update: Price, Volume….
The current trading price of the Shiba Inu (SHIB) coin is $0.00001327, reflecting a 0.9% decrease in the last 24 hours. Over the past week, SHIB has experienced a 2.1% decline against Bitcoin and a 0.3% decline against Ethereum, highlighting its recent price volatility.
With a market cap of $7,821,569,780, the Shiba Inu token continues to be a significant player in the crypto space. The fully diluted valuation is $13,273,278,898, with a 24-hour trading volume of $151,914,096. The circulating supply stands at 589,261,459,882,140 SHIB out of a total supply of 999,982,346,341,695 SHIB.
Shiba Inu Coin Market Snapshot: Price and Volume Analysis. Source: CoinGecko
The US government’s substantial holdings in Shiba Inu add a unique aspect to the coin’s market dynamics, raising interest among investors who are closely monitoring any potential movements.
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