Blockchain technology is unique! Where else can you track the holdings of big investors in real time, check out their latest moves, portfolio values, and more?
We’ve decided to dabble into some of the larger holders of one of the most popular meme coins in the market – Shiba Inu (SHIB) and stumbled upon an interesting finding.
Government Holding Shiba Inu (SHIB)?
Data from the popular crypto resource firm Arkham reveals that the US Government is one of SHIB’s large holders.
Apparently, the country holds almost 55 billion SHIB tokens valued at around $740,000 at current prices.
It’s worth noting that the US Government hasn’t actually bought or invested in the meme coin but rather confiscated the token as part of some of its law enforcement operations.
A better-known fact is that they are also the largest holders of BTC, currently sitting on a stash of 203.239K BTC worth over $12 billion.
SHIB Price Shaky
As CryptoPotato reported earlier today, the price outlook for SHIB remains rather uncertain. It’s down by around 7% in the past week and more than 20% on a weekly scale.
Moreover, worrying signals such as declining in-the-money percentage of holders, net network growth, concentration, and whale activity might spell trouble for the SHIB price in the short term.
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