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The U.S. government has now transferred 54 billion SHIB to a new wallet via a linked blockchain wallet.
A blockchain wallet associated with the United States government has executed a significant transaction, transferring over 54 billion Shiba Inu (SHIB) tokens to a newly established wallet.
This transfer, recorded by the blockchain analytics platform Arkham Intelligence on December 3 at 19:30 UTC, involved a total of 54,897,092,549 SHIB tokens, which now reside in the Ethereum wallet identified as ‘0x9…Cb0’.
With Shiba Inu currently trading at approximately $0.00003058, this massive transfer is valued at around $1.67 million.
Following this transaction, the original wallet, linked to the U.S. government, has emptied its holdings of SHIB tokens.
In contrast, the recipient wallet, which boasts a total cryptocurrency portfolio of $33 million, has retained these assets.
<h3 class="wp-block-heading" id="h-significant-gains-from-shiba-inu-holdings" style="font-size:21px">Significant Gains from Shiba Inu Holdings</h3>
The U.S. government has held these 54.89 billion SHIB tokens since earlier this year.
In August, reports indicated that the tokens were valued at $729,581 when priced at $0.00001329 each.
Remarkably, the value of these holdings has surged by 128.89% over a span of less than four months, now amounting to an impressive $1.67 million.
This price increase aligns with a broader rally in Shiba Inu’s market value, which began in November following the U.S. elections.
Since November 5, Shiba Inu’s price has nearly doubled, climbing from around $0.000017 to $0.000033 by December 1.
As of now, Shiba Inu is trading above the $0.00003 threshold, specifically at $0.00003257.
<h3 class="wp-block-heading" id="h-additional-crypto-transactions" style="font-size:21px">Additional Crypto Transactions</h3>
Data from Arkham also reveals that the recipient wallet appears to have been newly created.
Its first transaction was noted just a day before the SHIB transfer, when it received $1.061 million worth of AEGRO from the same wallet that transferred the Shiba Inu tokens.
Within a short timeframe, the wallet accumulated various other crypto assets from the U.S. government-linked address, including 4,815 ETH valued at approximately $17.22 million, 13.58 million BUSD (also valued at $13.58 million), and 631,959 POWR, worth around $199,250.
Moreover, the U.S. government-linked wallet has been active in other <a href="https://thecryptobasic.com/2024/12/04/us-government-moves-54897092549-shiba-inu-to-new-wallet/" target="_blank" rel="noopener noreferrer nofollow">transactions</a>, moving funds to yet another wallet starting with ‘0x9cd’.
This included 138,984 RLC (valued at $347,460) and 1,232 COMP (worth $106,430).
Earlier this week, the wallet also transferred 19,800 BTC, amounting to around $1.92 billion, to Coinbase.
It’s important to note that much of this cryptocurrency was seized by the U.S. government during investigations related to the collapse of the FTX exchange in 2022.
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Also Read:&nbsp;<a href="https://franknez.com/shiba-inu-sees-a-surge-in-popularity-now-welcoming-7548-new-wallets/" rel="noopener noreferrer nofollow">Shiba Inu Sees A Surge In Popularity Now Welcoming 7,548 New Wallets</a>
The post <a href="https://franknez.com/the-u-s-government-has-now-transferred-54b-shib-to-a-new-wallet/" rel="noopener noreferrer nofollow">The U.S. Government Has Now Transferred 54B SHIB To A New Wallet</a> appeared first on <a href="https://franknez.com" rel="noopener noreferrer nofollow">Daily Market News 🗞️</a>.

The U.S. Government Has Now Transferred 54B SHIB To A New Wallet

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