US Govt Moves 54 Billion Shiba Inu, But SHIB May Explode 130%
Wallets associated with the U.S. government have transferred more than 54 billion Shiba Inu (SHIB) tokens to newly created wallets. Popular blockchain analytics platform Arkham Intelligence indexed the transaction on December 3. Announcing the move on X, Arkham point out: “Warning: The U.S. government is moving $1.5 million worth of Shiba Inu dogs.”
Specifically, the US government transferred 54,897,092,549 SHIB tokens to the Ethereum wallet “0x995”. After the transaction is completed, the sending wallet associated with the US government no longer holds any SHIB tokens. The recipient wallet currently holds a cryptocurrency portfolio worth a total of $33 million and retains these assets.
Notably, the U.S. government obtained these SHIB tokens by seizing the assets of Alameda Research, a trading company affiliated with the U.S. government. Now-defunct cryptocurrency exchange FTX. The seizure is part of a broader forfeiture action involving more than $700 million in assets due to legal issues at FTX and Alameda. SHIB tokens were among the various digital assets seized during the process.
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Data from Arkham indicates that the recipient wallet was newly created. Its first transaction occurred recently, when it received $1.061 million worth of AEGRO tokens from the same wallet from which it transferred SHIB tokens. In less than two hours, the wallet also received other crypto assets from U.S. government-affiliated addresses, including 4,815 ETH (approximately $17.9 million), 13.58 million BUSD ($133 million), and 631,959 POWR ($221,000).
While it’s unclear whether the U.S. government has sold its holdings of SHIB, the lack of any identified exchange or over-the-counter (OTC) address associated with the transaction suggests the government may still be holding the tokens.
Shiba Inu Price Analysis: Possible to Soar 130%?
Cryptocurrency Analyst Rony Kapoor (@LearnRony) shared Comparative chart analysis between Dogecoin (DOGE) and Shiba Inu (SHIB) on . Sooner or later the Shiba Inu will pump! ”
DOGE’s chart shows a clear “cup-and-handle” pattern— Bullish continuation A pattern that often precedes a major price breakout. DOGE’s handle formed near the $0.21 mark and after a period of consolidation, the coin rebounded to peak at around $0.48. This move represents a massive 128% increase from the breakout point.
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Likewise, SHIB’s chart suggests a cup-and-handle pattern may be forming, but the structure is still developing. The current trading price is hovering around $0.000030, with resistance identified at $0.000038 – the expected handle resistance. If SHIB follows a similar trajectory to DOGE, a successful breakout could target price Based on the proportional growth observed in DOGE’s previous moves, this level is around $0.000087.
Technical indicators such as Fibonacci retracement levels support this analysis. SHIB is currently trading below the 0.618 Fibonacci level at $0.000032. A break above this level could see SHIB target the 0.786 Fibonacci level at $0.000038. Follow-up targets include the yearly high from March at $0.00004569. Notably, the all-time high of $0.00008854 correlates closely with the projected target of the cup-and-handle pattern identified by Kapoor.
Featured image from Shutterstock, chart from TradingView.com
