Shiba Inu: US Government Holds $54 Billion SHIB, Arkham Data Shows Shiba Inu: US Government Holds $54 Billion SHIB, Arkham Data Shows

New data from Arkham Intelligence shows the US government wallet holds 54 million Shiba Inu (SHIB) tokens. The recent development has sparked an array of activity on X, indicative of how the crypto narrative is gaining major attention in the political realm of the country.

Also Read: Cardano: ADA Targets $1 Post Chang Hard Fork Upgrade, Now 33% Complete

Arkham Intelligence Reveals New Data on the US Government

Shiba Inu sitting stacks of money
Image Source: WatcherGuru

According to Arkham Intelligence, the US government seems to be holding nearly 54 million SHIB in its wallet. The platform, which enables users to track intelligence on addresses, entities, individuals, and assets, has shown how the US government is currently holding robust crypto holdings in its wallet.

Apart from holding SHIB, the US government’s wallet is also holding sizable amounts of Bitcoin, Ethereum, USDT, and WBTC. Apart from this, the wallet comprises other notable cryptos, including BNB, BUSD, AUSDC, DAI, TRX, and UNI. The platform further portrays the US government portfolio as being extremely diverse, holding different cryptos and coins in its portfolio.

The aforementioned news was recently magnified on social media as well. A crypto enthusiast dubbed Lola was quick to share the news of SHIB being included in the US government portfolio.

The ongoing US presidential elections are currently being dubbed “crypto elections.” With Harris and Trump vying for significant crypto connections to tempt the masses, the aforementioned development could significantly impact the US economic and political narrative.

Also Read: Shiba Inu Weekend Price Prediction: Is SHIB Claiming A New ATH?

Shiba Inu: Bullish Signs Could Ring In A New Attitude

The data from Arkham Intelligence that showed the US government holding SHIB may play a crucial role in drastically improving SHIB’s prospects. The token is currently facing a bearish phase, which has intensified lately. Per CoinMarketcap, Shiba Inu is trading at $0.00001727, up 2% in the last 24 hours.

One notable crypto analyst, Jonathan Carter, has pointed out a bullish development concerning SHIB. Per Carter, SHIB is trading in a descending channel, and a break above the MA 50 might spark a new trade rally to $0.000038.

“Shiba Inu SHIB is trading in a descending channel, suggesting a potential trend flip. A break above the MA 50 and resistance might spark a major rally. Keep an eye on the $0.000038 target if bullish momentum builds.

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