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270 Billion Shiba Inu (SHIB) Sold by Bankrupt Crypto Broker, Here's How Price Reacted

Wed, 03/15/2023 - 11:29
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Tomiwabold Olajide
SHIB still up 1.77% in last 24 hours at $0.0000111
270 Billion Shiba Inu (SHIB) Sold by Bankrupt Crypto Broker, Here's How Price Reacted
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According to PeckShieldAlert, bankrupt crypto lender Voyager transferred over $27.7 million worth of crypto assets to Coinbase crypto exchange.

PeckShield notes that among the crypto assets moved by Voyager-labeled addresses are 270 billion SHIB, worth over $3 million.

Others are 17,000 ETH worth nearly $19 million and 12 million VGX worth over $5 million, which were moved to Coinbase.

Investors often move their assets to exchanges when they are looking to sell them. This seems to be the case for Voyager, as on-chain analytics firm Lookonchain infers that the bankrupt crypto lender might have been selling some of its assets through Coinbase since last month.

It seems that the bankrupt crypto lender timed its sale of Shiba Inu tokens, this time occurring at a local top. A short-term barrier might be gradually building in the range of $0.00001169 to $0.00001189 following SHIB's rejection a second time in the past week around this range.

After four straight days of gains following its rebound from lows of $0.0000104 on March 10, Shiba Inu faced a barrier at the March 14 high of $0.0000118, leading to a slight retreat.

At the time of publication, SHIB was still up 1.77% in the last 24 hours at $0.0000111, according to CoinMarketCap data.

In separate news, Shiba Inu partner and English fashion designer John Richmond has offered the chance to dress metaverse avatars in digital wearables designed by himself. Shiba Inu stole the show at the SXSW 2023 event, which saw the premiere of the SHIB metaverse.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.