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$2.5 Million in SHIB Unloaded by Major Holder, But Shiba Inu Price Acts Paradoxically

Fri, 07/21/2023 - 09:44
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Gamza Khanzadaev
Shiba Inu price defies gravity, despite SHIB dump worth millions of dollars
$2.5 Million in SHIB Unloaded by Major Holder, But Shiba Inu Price Acts Paradoxically
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In a remarkable turn of events, a staggering 320 billion Shiba Inu tokens have been drained from bankrupt crypto broker Voyager's wallet within the last 12 hours. The estimated value of this massive volume, calculated at current SHIB prices, stands at a remarkable $2.5 million. This marks the third substantial outflow of SHIB tokens since Voyager enabled withdrawals for its clients on June 23.

Shiba Inu (SHIB) Payments Expand into Europe Following This Major Partnership

The surprise twist in this development is that despite such a massive transfer of SHIB tokens, the price of the Shiba Inu token has shown remarkable resilience in today's trading. Contrary to common expectations, SHIB quotes did not experience even the slightest hint of downward pressure.

SHIB to USD by CoinMarketCap

As the SHIB army braces for its next moves, the big question remains: what will happen to the value of the Shiba Inu token price when Voyager's wallet is finally emptied completely? The address, still laden with 1.3 trillion Shiba Inu tokens, currently holds a value of over $10 million. It is interesting to note that SHIB continues to be the third largest asset in Voyager's possession, representing a substantial 12.5% of all the funds held in the platform's bankrupt wallet.

Trillions of SHIB Flow into Shiba Inu Billionaire Addresses as Holdings Grow 20%

The crypto market continues to be a roller coaster ride of unpredictability over the last couple days, and unusual occurrences, such as this paradoxical situation with Shiba Inu, only add to the intrigue.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.