• Shiba Inu’s price could take a significant blow due to a large transfer of 182 billion SHIB tokens and reported sell-offs of the meme coin.
• There was an on-chain data source called Lookonchain that reported a “smart money” investor transferred 182 billion SHIB tokens to cryptocurrency exchanges Crypto.com and Gemini, which is equal to around $2.3 million.
• Lookonchain also said that Voyager is selling assets via Coinbase most of which are comprised of SHIB tokens, and if these transactions carry on, the price of the meme coin could see downward movements.
Massive Sell-Offs Could Lead to Big Drop for Shiba Inu
Shiba Inu (SHIB) could be in trouble with recent massive transfers and sell-offs witnessed from SHIB whales just after Voyager also made reports of some Sell-offs of the meme coin. The price of Shiba Inu could take a significant blow if there is a considerable drop in demand for the stock in the near term or medium term amid these developments.
182 Billion SHIB Tokens Transferred
A “smart money” investor reportedly carried out a sizable Shiba Inu transaction a few hours before press time, as reported by an on-chain data source called Lookonchain. The whale recently transferred 182 billion SHIB to cryptocurrency exchanges Crypto.com and Gemini, which is equal to around $2.3 million.
Voyager Selling Assets Via Coinbase
Lookonchain yesterday said that Voyager is selling assets via Coinbase most of which are comprised of SHIB tokens. Since Feb 14th, Voyager has been sending assets to Coinbase almost daily, leading to speculation about their impact on the future performance of the coin’s price..
Potential Impact On Price
A further major drag on the SHIB price is possible if Voyager is in fact selling all its crypto holdings; however, at press time CoinMarketCap showed that Shiba Inu had increased by over 1.5% in twenty four hours showing that no immediate impact had yet been seen on its value due to these developments yet .