shiba Inu, following the declines in the cryptocurrency market, lost an average of 5%. The reason for the decline of the meme coin, which outperformed its competitors in terms of drop rate, is also noteworthy. Here are the known details.
According to CoinMarketCap data, SHIB is struggling to maintain its place in the top 20 cryptoassets by market cap. However, the latest on-chain data is struggling with the risk of bankruptcy. VoyagerIt revealed that . Of course, these news were not received positively by investors.
In the past weeks, Voyager has transferred billions of Shiba Inu to different unknown wallets, and the reason behind these transactions remains unclear given the bankruptcy situation. In the last 24 hours alone, 90 billion tokens were moved in three transactions.
Voyager on June 29 and 30, nine days ago 280 billion SHIB transferred 255 billion Shiba Inu to six obscure wallets.
According to Ethersacn data, Voyager last transferred SHIB 113 days ago before major moves in June.
Lookonchain suggested that the reason behind these transfers could be linked to Voyager’s plan to reopen customer withdrawals. He emphasized that Voyager gave its creditors access to about 35% of its crypto assets, including the Shiba Inu a week ago.
In a related development, McDermott Will & Emery, a New York-based law firm, has sought $5.1 million in damages from Voyager’s creditors, according to a July 3 court filing.
You can follow the current price action here.