• The upcoming launch of Shibarium is raising high hopes in the Shiba Inu community that the SHIB price will rise.
• A known SHIB whale, crypto lender Voyager, transferred around 270 billion SHIB, equivalent to $3 million, to crypto exchanges including Coinbase, Binance US and Kraken.
• Rumors are circulating that Voyager may want to liquidate the altcoins to compensate its creditors, which could put downward pressure on the SHIB price.
The Shiba Inu (SHIB) community is eagerly awaiting the launch of Shibarium, a platform that will expand the use case of SHIB beyond a meme coin. As such, the community is expecting the SHIB price to rise due to increased demand. However, news of a known SHIB whale transferring some of their SHIB holdings to crypto exchanges has raised some caution among investors.
Crypto lender Voyager recently transferred around 270 billion SHIB, equivalent to $3 million, to crypto exchanges Coinbase, Binance US and Kraken. This makes Voyager the 18th largest SHIB whale and a potential threat to the SHIB price if the tokens were to be sold at some point in the future. The reasons for the transfer were not known at press time.
Rumors are circulating on Twitter that Voyager could be planning to liquidate the altcoins to compensate its creditors and profit from the recent market rally. If this is true, SHIB could face a sell-off that could push the price down sharply. However, as Binance.US agreed to buy a part of Voyager’s assets in December, it is possible that Voyager may not be planning to sell the SHIB tokens.
Regardless of what the intentions of Voyager are, the SHIB price has remained unaffected so far. With the launch of Shibarium around the corner, many in the SHIB community are confident that the price will continue to remain stable and potentially increase as more users join the platform.