Voyager Dumps 320 Billion SHIB Tokens Worth $2.5 Million

Lately, the Shiba Inu [SHIB] ecosystem has witnessed a rise in large transactions. While many of these transactions have been advantageous, with whales accumulating more tokens ahead of Shibarium, bankrupt crypto broker Voyager took a contrasting path. An astonishing 320 billion SHIB tokens were allegedly drained from the firm’s wallet. The massive volume of 320 billion SHIB tokens withdrawn from Voyager has an estimated value of about $2.5 million based on current SHIB prices.

This significant outflow represents the third-largest withdrawal of SHIB tokens since Voyager allowed its clients to make withdrawals on June 23. Earlier this month, the bankrupt company moved a total of 511 billion tokens. Back in June, the firm moved 25 billion tokens into a new wallet.

In contrast to typical days, large transactions were not prominent at the current time. Data from IntoTheBlock revealed a significant 63.75% decrease in large transaction volume in the SHIB market, with the total volume amounting to only $8.6 million. However, despite this decline in large transactions, the total number of active addresses in the market continued to surge, experiencing a remarkable 29.23% increase.

Also Read: Shiba Inu: Bankrupt Voyager Shifts 511 Billion SHIB

Shiba Inu remains afloat despite increased dumping

Despite the significant outflow of SHIB tokens from Voyager, the price of the meme coin showed surprising stability. Instead of declining, the asset was actually experiencing an upward movement. Currently, Shiba Inu is trading at $0.000007758 with a modest daily increase of 0.31%. However, its market cap has slightly decreased to $4.75 billion, pushing the meme coin back to the 19th position in the rankings.

The chart above clearly shows a slight upward movement in the SHIB market. The Relative Strength Index [RSI] indicator indicated some selling activity. However, the RSI marker was gradually trending back toward the buyers’ territory.

The current statistics of SHIB appeared to have little impact on the market, as the community remains optimistic and hopeful about the upcoming launch of Shibarium.

Also Read: Shiba Inu: Bankrupt Voyager Unexpectedly Moves Billions of SHIB