Shiba Inu: Bankrupt Voyager Shifts 511 Billion SHIB

Vignesh Karunanidhi
Shiba Inu Burn Rate Goes Parabolic, Surges 5600%
Source: MARCA

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 not shown considerable progress in terms of price. The second largest meme coin experienced a 2% drop in the last 24 hours. Recent data from Etherscan indicates significant movement of billions of SHIB. This activity was initiated by Voyager, a crypto lender that is currently facing bankruptcy.

Source: Etherscan

Voyager moves billions of Shiba Inu

Details from Etherscan reveal that Voyager is moving SHIB to a different wallet. While the precise motive behind the decision is uncertain, the community began their speculation.

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Etherscan data shows that before 2 hours ago, over 90 billion SHIB were moved. In the last seven days, over eight transactions have occurred, which account for a total of billions. Two of these movements involve the shifting of 70 billion each. Additionally, one notable transaction among the lot moved 80 billion SHIB in a single transaction. According to recent data, the value of the SHIB moved stands at around $3.8 million.