Shiba Inu Price Unaffected by Significant Voyager Dump of 320 Billion SHIB Tokens

Recently, the Shiba Inu [SHIB] ecosystem has experienced a surge in significant transactions. While a number of these transactions have been beneficial, as large holders gather more tokens in anticipation of Shibarium, a bankrupt crypto broker named Voyager has taken a different and alarming approach.

Reportedly, an astounding 320 billion SHIB tokens were drained from the firm’s wallet. The massive volume of 320 billion SHIB tokens withdrawn from Voyager is currently valued at approximately $2.5 million based on the prevailing SHIB prices.

This substantial outflow marks the third-largest withdrawal of SHIB tokens since Voyager enabled client withdrawals on June 23. Just this month, the bankrupt company transferred a total of 511 billion tokens. Additionally, in June, the firm relocated 25 billion tokens to a new wallet.

Compared to regular days, there was a noticeable absence of large transactions during the current period. According to data from IntoTheBlock, the SHIB market saw a substantial 63.75% reduction in large transaction volume, with the total volume reaching just $8.6 million. However, despite this decline in significant transactions, the total number of active addresses in the market continued to rise, showing an impressive increase of 29.23%.

Shiba Inu Maintains Price Stability Despite Voyager Dump

In spite of the substantial outflow of SHIB tokens from Voyager, the price of the meme coin has displayed unexpected resilience. Rather than declining, the asset has been on an upward trajectory. Presently, Shiba Inu is being traded at $0.000007862, showing a modest daily rise of 2.25%. Nonetheless, its market capitalization has slightly decreased to $4.63 billion, causing the meme coin to slip back to the 18th position in the rankings.

The provided chart clearly indicates a minor upward trend in the SHIB market. The Relative Strength Index [RSI] signaled some selling activity, but it was gradually shifting back in favor of the buyers.

Despite the current statistical data of SHIB, it seems to have had minimal impact on the market as the community remains positive and enthusiastic about the impending launch of Shibarium.

Olasunkanmi Abudu

Olasunkanmi Abudu is a Web3 content writer with over five years of experience covering blockchain, decentralized finance, and digital assets. He specializes in producing well-researched and accessible content that explains complex technologies and market trends to both general readers and industry professionals.

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