Voyager Sells 1.4 Trillion Shiba Inu, But There’s Good News For SHIB

Name	Symbol	Market	Market Cap ($)	Algorithm
Decentraland	MANAUSD	Crypto	822,254,264	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Decentraland

MANAUSD

Crypto

822,254,264

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.0075	-1.66%	0.4445	0.4443	0.4446

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.0075

-1.66%

0.4445

0.4443

0.4446

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.457	0.4344	0.4523	0.452	0.247540 - 0.819800

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.457

0.4344

0.4523

0.452

0.247540 - 0.819800

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	12:18:01	96.42	0.4445	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

12:18:01

96.42

0.4445

USD

Price x Volume	Volume	Base Symbol	Related Pairs
275,616.77	615,579.34	MANA	MANAEUR	MANAGBP	MANABTC

Price x Volume

Volume

Base Symbol

Related Pairs

275,616.77

615,579.34

Voyager Sells 1.4 Trillion Shiba Inu, But There’s Good News For SHIB

15/08/2023 9:25am

NEWSBTC

In a recent revelation, Lookonchain, the on-chain analysis service, reported that Voyager Digital, the now-bankrupt crypto lending platform, has been offloading its crypto assets on Coinbase in recent days. Over the past four days, the defunct lender has sold 49 different crypto assets, netting approximately $63 million. For the SHIB army the most notable sale was the 1.4 trillion Shiba Inu tokens, which amounted to nearly $14.4 million. Beyond SHIB, Voyager’s sales included significant amounts of Bitcoin (BTC), Ethereum (ETH), Chainlink (LINK), Polygon (MATIC), and Decentraland (MANA). “Voyager has been selling assets on #Coinbase for the past 4 days and has sold 49 tokens for ~$63M. Including: 781 BTC ($23M); 9,570 ETH ($17.6M); 1.4T SHIB ($14.4M); 234,660 LINK ($1.74M); 1.87M MATIC ($1.27M); 3M MANA ($1.1M);”, Lookonchain tweeted. The sales have significantly reduced Voyager’s crypto holdings. However, they haven’t entirely emptied their coffers. The on-chain analysis service further detailed Voyager’s remaining assets: “Voyager currently holds $11.3M worth of assets, including: 52.4M VGX ($8.27M); 55 BTC ($1.62M); 537K KNC ($371K); 1.18 FTM ($286K); 20.7M STMX ($140K); 4.85M GALA ($111K).” Related Reading: Shiba Inu (SHIB) Poised For Golden Cross – How Will Prices React? While the sales have drawn attention, there’s a silver lining for the SHIB community. According to Lookonchain’s data, Voyager’s SHIB holdings have been completely liquidated. Thus, Voyager’s SHIB holding have gone to zero, suggesting a potential reduction in sell pressure on the Shiba Inu token in the future. Shiba Inu Price Shows Resilience Despite the massive sell-off by Voyager, SHIB’s price remained resilient. The token has seen a surge of over 14.2% in the past week. This bullish momentum is largely attributed to the forthcoming Shibarium mainnet launch at the Blockchain Future Conference, starting today. Investors seem optimistic about SHIB’s potential, believing that if the layer-2 scaling solution delivers on its promises, the SHIB token could witness even more substantial gains. Related Reading: Shiba Inu Steals The Spotlight, Leaving Bitcoin Behind In A Week Of Price Surges At press time, the Shiba Inu price stood at $0.00001019 after finding support at the 38.2% Fibonacci retracement level ($0.00001007). The key resistance on a daily basis is currently the 50% Fibonacci level at $0.00001121. Should a breakout occur, SHIB could rise 21% from its current price to follow through to the 61.8% Fibonacci level. Major resistance is expected at this price level ($0.00001235). The RSI on a daily basis has been in an ascending trend since the annual low on June 10 and was at 65 at press time. This leaves the SHIB bulls with further room to run. For an explosive double-digit move, the RSI should enter deep overbought territory. For investors, today’s or tomorrow’s Shibarium launch should be taken with a grain of salt. As usual for the crypto market, it could be a “buy the rumor, sell the news” event, as the impact of the launch might only be seen in the long term over the coming months. In this case, the 200-day EMA at $0.00000938 will be a key support to defend for the bulls. Featured image from iStock, chart from TradingView.com

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MANAUSD Decentraland