CandleFocus US Govt Moves 54.9 billion Shiba Inu, But SHIB Could Explode By 130%
2024-12-05
Author: Content Editor
The United States government has transferred over 54 billion Shiba Inu (SHIB) tokens to a newly created wallet, with a total value of $33 million. The tokens were acquired through the seizure of assets from trading firm Alameda Research, which was affiliated with the now-defunct crypto exchange FTX. The recipient wallet also received other crypto assets worth millions of dollars from the US government. It is unclear whether the government has sold its SHIB holdings, but there are no identified exchanges or over-the-counter addresses linked to the transaction. In addition, a crypto analyst suggests that SHIB may follow a similar trajectory to Dogecoin (DOGE), with the potential formation of a Cup and Handle pattern indicating a significant price increase. Technical indicators support this analysis, with resistance levels and targets identified.
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