US Government Holds $54B SHIB! A Potential Sell-off Approaching?

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Author: Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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According to data from Arkham Intelligence, the U.S. government holds 54.89 billion SHIB tokens. Notably, the blockchain wallet affiliated with the U.S. government holds more than 100 digital assets worth $12.43 billion at the time of writing. Out of the total crypto holdings in the wallet, only Shiba Inu has amassed a quantity in the billions. Based on its holding of over 54 billion Shiba Inu tokens, the United States government is considered a whale whose actions might significantly impact SHIB’s price action. If the government decides to offload its SHIB holding, it could trigger a bearish impact on the asset.

Source: https://coinpedia.org/crypto-live-news/us-government-holds-54b-shib-a-potential-sell-off-approaching/