SHIB, ETH Price Drop Incoming? FTX-Voyager Case Might Be The Reason

Ashish Kumar
February 2, 2023 Updated May 19, 2025
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SHIB Burn Jumps 10,109% As Top Crypto Exchange Sends Millions To Burn Address

Shiba Inu News: Collapsed crypto exchange, FTX sued Voyager, a crypto lender, in order to recover $446 million worth of funds. As per reports, the fund was allotted by FTX before going in for bankruptcy back in November 2022. However, on chain data trackers have identified some transactions made by Voyager which might lead to a price dump for several cryptos.

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Can Voyager’s move shake Shiba Inu?

As per the data provided by PeckShieldAlert, Voyager transferred almost $10 million worth of digital assets to different crypto exchanges over the past 24 hours.

Data depicts that Voyager moved 270 billion Shiba Inu (SHIB) (approx worth $3.2 million) and 4.9 million Voyager Tokens (VGX) (approx worth $2.1 million). It added that around 3.05K Ethereum (ETH) (approx worth $3 million) and 221K Chainlink (LINK) (approx worth $1.5 million) were also moved by the crypto lender.

The mentioned digital assets moved on different crypto exchanges like Coinbase, Binance US and Kraken. However, all the transferred cryptos excluding VGX tokens are trading in green. This suggests that Voyager might be planning to sell the listed cryptos.

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Dump incoming?

However, the same wallet is holding over 6.8 trillion Shiba Inu coins at the moment. The address is the 18th largest holder of SHIB tokens (approx worth $82 million).

Shiba Inu price has surged by 48% over the past 30 days. SHIB is trading at an average price of $0.000012, at the press time. Its 24 hour trading volume is up by 50% to stand at $342 million.

Looking at the recent, Shiba Inu price run, it is expected that Voyager might move its cumulative SHIB holding to revive funds. This could lead to a price dump for Shiba Inu and other tokens.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.