The crypto credit institution Voyager, which has entered the bankruptcy process, continues to get rid of the cryptocurrencies in its hands. The company last day was exactly 200 billion dollars. shiba inufor $2.45 million.
As we reported earlier, Voyager has been processing millions of dollars worth of crypto transfers for some time now. These large transfers do not escape the attention of the crypto community. Many in the community believe that Voyager is selling its cryptocurrencies to repay creditors.
Koinfinans.com As we have reported, in parallel with this development, the breast coin price continues to lose blood. The Shiba Inu price has lost over 9 percent at one point today. Although the meme coin managed to recoup some of its losses, it failed to break above the key $0.000012 level.
According to IntoTheBlock, around 100,000 addresses bought SHIB for around $0.000012. This group of investors is already suffering losses that increase the pressure on the price and could trigger further selling.
On the other hand, Voyager still has 5.37 trillion Shiba Inu in its wallet worth $61 million despite recent sales. After USDC and Ethereum (ETH), SHIB is the bankrupt crypto broker’s largest position and best-sold position.
It is not known how long the sale organized by Voyager will last. However, it seems likely that he will decide to get rid of the trillions of remaining SHIBs in the near future. If Voyager starts dumping its cryptocurrencies into the market more aggressively, the price of SHIB could drop further in the absence of exciting developments like Shibarium. Of course, the general market trend will also play an important role in this process.
You can follow the current price action here.