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SHIB Trillionaire Moves Whopping 750 Billion Shiba Inu Tokens, Here's What's Happening

Mon, 08/14/2023 - 14:45
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Gamza Khanzadaev
Hundreds of billions of SHIB transferred as bankrupt Shiba Inu trillionaire empties pockets
SHIB Trillionaire Moves Whopping 750 Billion Shiba Inu Tokens, Here's What's Happening
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In an astonishing turn of events, an astronomical sum of Shiba Inu tokens, totaling a staggering 750 billion, has been observed on the move within the last 24 hours. The trail leads back to the bankrupt American crypto broker, Voyager, which appears to be orchestrating a complex series of transfers.

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A breakdown in activity reveals a mind-boggling sequence: initially, 250 billion SHIB tokens were swiftly transferred, followed by an additional 200 billion after a mere 12 hours. To cap off this dizzying display of movement, a further 300 billion Shiba Inu tokens were dispatched less than two hours ago. All told, these transfers command an estimated value of $7.73 million.

This flurry of transactions has left Voyager's balance sheet with a remaining 300 billion Shiba Inu tokens, equivalent to $3.13 million. The total depletion of the wallet since the beginning of the year approaches an astonishing $73 million, revealing the significant shifts that have taken place on Voyager's holdings.

Destination known

What makes this situation particularly intriguing is the final destination of these colossal token movements - none other than the reputable crypto exchange, Coinbase. The implications of this development are twofold: Coinbase acts as both an intermediary between Voyager and the ultimate recipients of the Shiba Inu tokens, and it may also serve as a potential future marketplace for the sale of the tokens.

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With the dust yet to settle, the Voyager account retains an impressive combined token value of $88 million, including the remaining 300 billion SHIB. However, it is important to note that a substantial portion, totaling $69.68 million, comprises USDC stablecoin.

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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.