The U.S. government holds a substantial amount of Shiba Inu (SHIB) tokens, attracting attention from both retail and institutional market participants.
U.S. Government's Crypto Portfolio
According to Arkham Intelligence, the U.S. government's blockchain wallet contains 54.89 billion SHIB tokens. The total value of the government's digital asset portfolio exceeds $12.43 billion, including more than 100 different cryptocurrencies. Shiba Inu ranks as the 19th largest digital asset by market capitalization despite the relatively low token price.
Potential Market Impact
With its significant SHIB holdings, the U.S. government could have a substantial impact on the token's price if it decides to sell. Historical data from previous government asset sales, such as Germany's $2 billion Bitcoin sale, suggests potential for price decline. A large SHIB sale by the U.S. government could trigger a bearish trend in the market.
Current SHIB Price Trends
Since the beginning of March, Shiba Inu has experienced a downward trend, significantly affecting investors. The token's price has decreased by 1.54% over the past 24 hours and by 5.58% over the past week. Leading crypto analyst Javon Marks notes the possibility of a SHIB price breakout after several months of a downward pattern. His analysis highlights the formation of a regular bullish divergence, indicating potential for a significant price increase. "Shiba Inu prices are nearing a breakout point and could signal a bullish trend," Marks stated.
The U.S. government's significant SHIB holdings raise interest and questions regarding potential future actions. In the near future, Shiba Inu's price trends may shift, leading to possible market fluctuations.
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