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February 28, 2024
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Voyager Bankruptcy Leads to Massive 270 Billion Shiba Inu Transfer! SHIB Price Drop On Horizon?

The post Voyager Bankruptcy Leads to Massive 270 Billion Shiba Inu Transfer! SHIB Price Drop On Horizon? appeared first on Coinpedia Fintech News

The bankrupt cryptocurrency lender Voyager Digital has transferred 270 billion SHIB to Coinbase, Kraken, and BinanceUS over the course of three transactions totaling 90 billion each.

Today, crypto on-chain analytics firm Lookonchain made the announcement on Twitter, where they also shared a link to the transaction details. According to a snapshot that was supplied, the initial transfer was sent to what Lookonchain identified as the deposit address for BinanceUS. 

The now-defunct cryptocurrency lender is said to be in possession of 6.8 trillion SHIB, as reported by Lookonchain and corroborated by the data on the Voyager address.

This move has aroused suspicions in the cryptocurrency world, with some believing that the bankrupt crypto lender is trying to cash in on the recent market boom in order to repay creditors, but Voyager has yet to comment on the matter. In addition to this, it has aroused worries about an impending sale of Shiba Inu, which has the potential to have a detrimental influence on the price of the breed.

How Shiba Inu is Doing?

As for SHIB, while continuing its ascent, the value of the meme token is being bolstered by a significant amount of support from the community. In the last thirty days, the price of SHIB has increased by more than 47 percent. Nevertheless, the recent revival of the cryptocurrency market was the primary driver of this spike. It is currently worth $0.00001201.

In conclusion, the most probable scenario for the Shiba Inu price forecast for the month of February is a bullish breakout, followed by a climb that is headed toward $0.000014. This bullish price projection, on the other hand, would be rendered worthless if the price closed below the support line of the triangle, which may set off a downward trend below $0.0000103.

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