US government moves 54 billion SHIB tokens

The US government has made a large-scale transfer of 54 billion Shiba Inu tokens SHIB $0.00002591 Shiba Inu -6.43% Market capitalization $15.28 billion VOL. 24 hours $0.11 billion to a new cryptocurrency wallet. The transaction, recorded by the Arkham Intelligence platform on December 3, is estimated at $ 1.67 million at the current market price of SHIB ($ 0.3 058). The government-linked wallet is known to have completely cleared its SHIB balances after the transfer.

The new wallet to which the assets were transferred also received other cryptocurrencies from the government wallet, including 4,815 ETH $3,884.24 Bridged Ether (StarkGate) -3.73% Market capitalization $0.35 billion VOL. 24 hours $1.91 billion , 13.58 million BUSD $0.99 BUSD 0.00% Market capitalization $67.79 million VOL. 24 hours $0.00000000 ($ 13.58 million), and 631,959 POWR ($ 199,250). Earlier this week, the government wallet transferred 19,800 BTC $104,887.41 Bitcoin -2.01% Market capitalization $2.08 trillion VOL. 24 hours $3.68 billion (approximately $ 1.92 billion) to the Coinbase exchange. Most of these assets were confiscated during investigations related to the FTX exchange collapse in 2022.

Interestingly, Shiba Inu has shown a significant increase in value in recent months. In August, 54 billion SHIB were worth $ 729,581, but today their value has increased by 128.89%. This jump is attributed to the general increase in the market price of SHIB after the US elections.

The activities of the government wallet and such large transactions are of interest to the crypto community, which is closely monitoring the possible impact of these movements on the market.