The price action of Shiba Inu (SHIB) has encountered a significant compression, primarily attributed to substantial selling originating from a prominent institutional market participant. Data obtained from Lookonchain, a renowned on-chain analytics resource, has shed light on the ongoing selling spree by Voyager, a troubled asset manager currently navigating bankruptcy proceedings. This selling binge over the past four days has amounted to an astonishing 1.4 trillion SHIB tokens, equivalent to approximately $14.4 million. The cryptocurrency landscape has witnessed a noteworthy development as Voyager, amidst its financial restructuring, embarked on an extensive liquidation of SHIB tokens. Related Reading: Chiliz (CHZ) Empowers Smart Contracts With Upgrades – Positive Impact On Price? Voyager’s Unloading Spree And Potential Implications On Shiba Inu Lookonchain’s data revealed the staggering magnitude of Voyager’s sell-off, raising questions about the motives behind this sizeable divestment. Amid speculation, it’s important to note that the asset manager has now depleted its SHIB holdings, as confirmed by Lookonchain’s report. This intriguing turn of events prompts speculation about the potential impact on SHIB’s trajectory. Voyager has been selling ..
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