A blockchain wallet linked to the United States government transfers over 54 billion Shiba Inu (SHIB) tokens to a newly created wallet.
Popular blockchain analytics platform Arkham Intelligence indexed the transaction on December 3 at 7:30 p.m. (UTC).
US exceeds 54 billion SHIB
More specifically, the US government transferred 54,897,092,549 (54.89 billion) SHIB tokens to Ethereum wallet “0x9…Cb0”. With Shiba Inu currently trading at $0.00003058, the tokens are worth approximately $1.67 million.
Following the transaction, the sending wallet, which had ties to the US government, no longer owns SHIB tokens. In the meantime, the receiving wallet, with a total crypto portfolio of $33 million, retained the assets.
US Government Sees Huge Return on Shiba Inu Holding
The US government has held 54.89 billion SHIB tokens since the start of this year. In August, The Crypto Basic reported that the tokens were valued at $729,581, each priced at $0.00001329. Interestingly, the value soared 128.89% in less than four months to $1.67 million.
This follows a surge in the price of the Shiba Inu, which began last month after the US election. In particular, the Shiba Inu has risen almost 100% since the November 5 election, from around $0.000017 to $0.000033 on December 1.
Currently, Shiba Inu is trading above the $0.00003 mark, with one unit priced at $0.00003058.
Other crypto transfers
Arkham data suggests the recipient’s wallet was newly created. Her first transaction took place yesterday when she received $1.061 million AEGRO from the same wallet that moved Shiba Inu tokens.
The wallet received other crypto assets from the US government-affiliated address in less than two hours. They include 4,815 ETH ($17.22 million), 13.58 million BUSD ($13.58 million), and 631,959 POWR ($199,250).
Meanwhile, the US government-linked blockchain wallet also moved some crypto assets to another wallet starting with “0X9cd”, including 138,984 RLC ($347,460) and 1,232 COMP ($106,430). Furthermore, this too transferred 19,800 BTC worth $1.92 billion at Coinbase earlier this week.
It is worth mentioning that the US government seized some of these funds from the FTX case following the epic stock market collapse in 2022.
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