• Shiba Inu (SHIB) is facing massive sell-offs due to a “smart money” investor transferring 182 billion SHIB tokens to cryptocurrency exchanges Crypto.com and Gemini, which is equal to around $2.3 million.
• Voyager has been sending assets to Coinbase almost daily since Feb. 14 and could be selling all of its crypto holdings, which could have a significant impact on the SHIB price.
• The cost of SHIB dropped by 7% when the whale previously moved a similar quantity of SHIB to Crypto.com in the past, showing that these developments may have an effect on SHIB’s price in the near future.
Shiba Inu Facing Massive Sell-Offs
A “smart money” investor recently transferred 182 billion Shiba Inu (SHIB) tokens to cryptocurrency exchanges Crypto.com and Gemini, which is equal to around $2.3 million. This came after reports that Voyager is selling assets via Coinbase most of which are comprised of SHIB tokens with Coinbase giving Voyager $100 million USDC over the last four days since Feb. 14th. If these transactions carry on, it could cause downward movements in the price of the meme coin as it dropped by 7% when this whale previously moved a similar quantity of SHIB to Crypto.com in the past, suggesting that there might be an effect on the price in the near future if demand for Shiba Inu decreases significantly or medium term effects occur from these developments.
Transaction Alert: Whale Moves 183 Billion SHIB
An on-chain data source called Lookonchain reported that a “smart money” investor carried out a sizable Shiba Inu transaction a few hours before press time with them transferring 182 billion SHIB tokens to cryptocurrency exchanges Crypto.com and Gemini, amounting up to $2.3 million USD value wise.. This was followed by Lookonchain’s announcement yesterday stating that Voyager is selling assets via Coinbase most of which are comprised of SHIB tokens as they have given Voyager $100 million USDC over the last four days since Feb 14th with them sending assets almost daily during this time frame as well..
The Impact Of The Price Of Shiba Inu
The cost of Shiba Inu has increased by over 1.5% in the previous twenty-four hours according to CoinMarketCap as at press time showing that there hasn’t been any major impact from these developments yet but if there are considerable drops in demand for this stock then it could take a considerable hit even more so if Voyager decides to sell off all its remaining crypto holdings too.. Furthermore, Lookonchain suggested that if these transfers continue then there will likely be downward pressure put on Shibu Inus’ price being caused by this particular whale’s activity thus far too..
Voyager Selling Assets Via Coinbase
Voyager has been sending assets via Coinbase almost daily since February 14th with them receiving $100 million USDC from Coinbase over those three days too thus far leading many analysts speculating that they may indeed be selling off all their crypto holdings soon enough.. There have already been sizeable transactions being made such as one whale moving 183 billion shibas just today and if many more whales follow suit then it could lead up towards further drops in prices for Shibu Inus’ due partly because of decreased demand too potentially .
Conclusion:
In conclusion, Shibu Inus’ prices could take a significant blow if there are considerable drops in demand for their stocks amid massive transfers witnessed from whales just after Voyager also made reports about some sell-offs related towards their meme coin recently… It should also be noted however that despite all this activity taking place within recent times regarding cryptocurrency investments surrounding this particular asset class -the price did still manage increase by 1+ % within 24 hours prior according to CoinMarketCap -thus indicating perhaps not much has changed yet overall at least not immediately anyway either way…