Shiba Inu (SHIB), a cryptocurrency known for its meme-inspired origins, has experienced fluctuations in its price performance. Nonetheless, the project has made significant strides in terms of its utility and development endeavors. Differentiating itself from other meme coins, Shiba Inu demonstrates active involvement in development initiatives and maintains regular updates to keep its community well-informed.
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SHIB has also made noteworthy strides in terms of price. The second-largest meme coin is up by 6% in the last seven days. Now, according to the latest details from Lookonchain, trillions of SHIB have been on the move. The movement was started by bankrupt crypto lender Voyager.
Voyager moves trillions of Shiba Inu
Details shared by Lookonchain reveal that Voyager is moving SHIB to a hot wallet. While the precise motive behind the decision is uncertain, Lookonchain speculates that it could be associated with the plan to resume customer withdrawals. During the period from June 20 to July 5, creditors were allowed to withdraw approximately 35% of their cryptocurrency holdings.
Approximately 14 hours ago, there were four transactions, each involving the transfer of 70 billion (70,000,000,000) SHIB. These transactions originated from an address labeled as “voyager 1” and were sent to an unidentified wallet address.
The transfers occurred within a few minutes of each other. Prior to these transactions, 70 million (70,000,000) SHIB had already been transferred from the “voyager 1” address. Overall, the most recent fund shift by Voyager involved the movement of a total of 2.87 trillion SHIB.