Shiba Inu News: Crypto exchange collapsed, FTX sued Voyager, a crypto lender to recover $446 million in funds. According to reports, the fund was allocated by FTX before going bankrupt in November 2022. However, on-chain trackers have identified some transactions made by Voyager that could lead to a drop in price for several cryptos.

Can Voyager’s Movement Shake Off Shiba Inu?

Voyager has transferred nearly $10 million worth of digital assets to various crypto exchanges in the past 24 hours, according to PeckShieldAlert data.

Records show Voyager moved 270 billion Shiba Inu (SHIB) (about $3.2 million) and 4.9 million Voyager Tokens (VGX) (about $2.1 million). It added that about 3.05K Ethereum (ETH) (about $3 million) and 221K Chainlink (LINK) (about $1.5 million) were also moved by the cryptocurrency lender.

Said digital assets have moved to various crypto exchanges such as Coinbase, Binance US, and Kraken. However, all transferred cryptos, with the exception of VGX tokens, trade in the green. This suggests that Voyager may be planning to sell the listed cryptos.

Dump inbound?

However, at the moment, the same wallet holds more than 6.8 trillion Shiba Inu coins. Address is the 18th largest holder of SHIB tokens (worth about $82 million).

The price of Shiba Inu is up 48% in the last 30 days. SHIB is trading at an average price of $0.000012 at the time of going to press. The 24-hour trading volume is up 50% to $342 million.

Looking at the recent Shiba Inu price hike, it is expected that Voyager could move its cumulative SHIB holdings to revive funds. This could lead to a price drop for Shiba Inu and other tokens.

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