🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

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

Published 2023-07-21, 05:44 a/m
© Reuters.  $2.5 Million in SHIB Unloaded by Major Holder, But Shiba Inu Price Acts Paradoxically
USD/CAD
-
SHIB/USD
-

U.Today - In a remarkable turn of events, a staggering 320 billion Shiba Inu tokens have been drained from bankrupt crypto broker 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.

The surprise twist in this development is that despite such a massive transfer of SHIB tokens, the price of the 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 As the SHIB army braces for its next moves, the big question remains: what will happen to the value of the 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 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.

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.

This article was originally published on U.Today

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.