This article is also available in Spanish.
A fund linked to the United States government has transferred more than 54 billion Shiba Inu (SHIB) tokens to a newly created fund. Popular blockchain analytics platform Arkham Intelligence identified the activity on December 3. Announcing the move to X, Arkham said: “WARNING: US GOVERNMENT MOVES $1.5 MILLION TO SHIBA INU.”
Specifically, the US government transferred 54,897,092,549 SHIB tokens to the Ethereum wallet ‘0x995’. After the purchase, the sending wallet—associated with the US government—no longer holds SHIB tokens. The recipient fund, which now has a complete crypto portfolio worth $33 million, has retained the asset.
Notably, the US government acquired these SHIB tokens through a seizure from Alameda Research, a trading firm linked to the defunct crypto exchange FTX. The seizure was part of a foreclosure action involving more than $700 million in assets due to legal issues surrounding FTX and Alameda. SHIB tokens were among a variety of digital assets captured during this process.
Related Reading
The data from Arkham suggests that the recipient’s wallet is newly formed. Its first purchase happened recently when it received 1.061 million worth of AEGRO tokens from the same fund that distributed SHIB tokens. In less than two hours, the wallet also received other crypto assets from an address associated with the US government, including 4,815 ETH (about $17.9 million), 13.58 million BUSD ($133 million), and and 631,959 POWR ($221,000).
While it is unclear whether the US government has sold its SHIB assets, the absence of any identified exchange or over-the-counter (OTC) addresses related to the transaction suggests that the government may still be holding the tokens.
Shiba Inu Price Analysis: 130% Chance of Surgery?
Crypto analyst Rony Kapoor (@LearnRony) shared a comparison chart analysis between Dogecoin (DOGE) and Shiba Inu (SHIB) on X, saying: “The next leg in SHIB will be similar to DOGE? The Shib looks like a large Cup & Handle pattern that builds like a doge before it uses a turbo. Sooner or later Shiba Inu will pump!!!”
The DOGE chart shows a clear “Cup and Hold” formation—a bullish continuation pattern that often precedes significant price divergence. The handle of DOGE was built around the $0.21 mark, and following the consolidation period, the token reached a peak value of around $0.48. This move represents a whopping 128% increase from the exit point.
Related Reading
Similarly, the SHIB chart shows the potential formation of the Cup and Holder pattern, a structure that is still developing. The current trading price is hovering around $0.000030, resistance levels are identified at $0.000038—the expected handle resistance. If SHIB follows a trajectory similar to DOGE, a successful breakout could target the price level around $0.000087, based on the relative increase seen in DOGE’s previous move.
Technical indicators such as Fibonacci retracement levels support this analysis. SHIB is currently trading below the 0.618 Fibonacci retracement at $0.000032. A break above this level could see SHIB target the 0.786 Fibonacci level at $0.000038. The next target includes the high for the year since March at $0.00004569. Notably, the all-time high of $0.00008854 is closely aligned with the proposed target from the Cup and Handle pattern identified by Kapoor.
Featured image from Shutterstock, chart from TradingView.com