Is a SHIB Rally Incoming?
Shiba Inu (SHIB) has been performing well, with a 13.2% increase in the past seven days, making it one of the top-performing altcoins. However, there is interesting data suggesting that SHIB’s price has been affected by selling from an institutional market participant.
Key Points:
- Voyager, an asset manager going through bankruptcy, sold 1.4 trillion SHIB tokens worth $14.4 million, potentially suppressing the price.
- Previously, Voyager moved $2.7 million worth of SHIB to Coinbase, indicating their selling pressure.
- Good news is that Voyager has no more SHIB to sell, which could lead to more gains if SHIB’s performance continues.
- SHIB proponents expect developments in its ecosystem, with the lead developer teasing a new utility for the LEASH token.
- The marketing strategist hinted at an upcoming presentation by the lead developer.
Hot Take: Despite the selling pressure from Voyager, the fact that they have no more SHIB to sell could be a positive sign for SHIB’s future performance. Additionally, the anticipated developments in SHIB’s ecosystem could further contribute to its growth. Keep an eye out for potential rallies and updates from SHIB’s team.
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