Voyager Dumps 1.4 Trillion Shiba Inu Tokens Ahead of Shibarium Launch

Vinod Dsouza
shibarium shiba inu
Source: Pixabay

The bankrupt cryptocurrency lending firm Voyager is on a dumping spree days ahead of halting all its operations. Data from Lookonchain indicated that Voyager indulged in a massive sell-off worth $63 million in the last four days. The firm sold Bitcoin, Ethereum, Shiba Inu, Chainlink, Matic, and MANA, among many other cryptocurrencies worth millions of dollars. The sell-offs are ringing alarm bells in the markets, as leading assets could tank in price due to the large volume.

Also Read: Shiba Inu: Investment of $103 Turns Into $1 Million in 3 Years

Here are the total cryptocurrencies that Voyager dumped in the last four days.

781 BTC – $23 million
9,570 ETH – $17.6 million
1.4T SHIB – $14.4 million
234,660 LINK – $1.74 million
1.87M Matic – $1.27 million
3M MANA – $1.1 million

Source: Twitter / lookonchain

Also Read: Shiba Inu To Reach 5 Cents? Here’s When SHIB Might Hit $0.05

The bankrupt firm has offloaded 49 other cryptocurrencies, making the total sale worth a staggering $63 million. The dumping of tokens adds strain to the cryptocurrency markets as leading assets remain under pressure due to the sell-offs.

Shiba Inu: The Shibarium Countdown

Shiba Inu SHIB Shibarium

Voyager has dumped 1.4 trillion Shiba Inu tokens worth $14.4 million this week. The sell-off comes on the heels of a possible Shibarium launch this month. The lead developer of ShibaSwap, Shytoshi Kusama, hinted in a recent blog that the layer-2 solution could “very likely” be released in August.

Also Read: Shiba Inu: Investor Would Have Made $40 Million With A $200 Investment

The SHIB team will attend the Blockchain Futurist Conference in Toronto, Canada, on August 16 and 17. The team could likely announce more details about Shibarium’s release at the conference. However, we will have to wait for an official confirmation about the launch of the main net from the team. Read here to know if Shibarium can push SHIB towards the $0.01 price mark.

At press time, Shiba Inu was trading at $0.00001002 and was down 2.2% in the 24-hour day trade. SHIB is also down close to 89% from its all-time high of $0.00008616, which it reached in October 2021.