U.S. Government Holds 54.89 Billion Shiba Inu (SHIB) Worth $729,581 in Crypto Wallet

Both retail and institutional investors have shown interest in SHIB, but the government’s involvement adds an unexpected twist.

The United States government is known to hold a large amount of Shiba Inu (SHIB) coins in its crypto wallet. This involvement adds an interesting layer to the coin's market presence.

As per data from Arkham Intelligence, the U.S. government has 54,897,000,000 (54.89 billion) Shiba Inu coins in its blockchain wallet. This wallet contains over 100 digital assets, collectively valued at $12.43 billion. Among these assets, SHIB stands out due to its substantial quantity.

With SHIB currently priced at $0.00001329, the government's holdings are worth around $729,581. Among the various assets in this wallet, Shiba Inu ranks 19th in terms of value.

While Bitcoin remains the most valuable asset in the wallet, valued at $12.04 billion, the U.S. government's SHIB holdings are significant enough to raise questions.

If the U.S. government decides to sell its 54.89 billion SHIB, it could have a noticeable impact on the market. Recently, we saw a similar event unfold when the German government sold over $2 billion worth of Bitcoin, leading to a price drop to $57,000.

However, it's important to note that the U.S. government has not announced any plans to sell its Shiba Inu coin holdings. Nevertheless, the possibility of such a move has sparked discussions and curiosity about its potential market effects.

In other news, the current trading price of the Shiba Inu (SHIB) coin is $0.00001327, showcasing a 0.9% decrease over 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.

The U.S. 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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