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.
Significant Gains from Shiba Inu Holdings
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.
Additional Crypto Transactions
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 transactions, 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: Shiba Inu Sees A Surge In Popularity Now Welcoming 7,548 New Wallets
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