{"id":547456,"date":"2023-08-16T07:18:07","date_gmt":"2023-08-16T07:18:07","guid":{"rendered":"https:\/\/uniquehot.com\/?p=547456"},"modified":"2023-10-27T11:24:02","modified_gmt":"2023-10-27T11:24:02","slug":"shiba-inu-bulls-on-the-horizon-substantial-selling-pressure-seen-dropping","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/shiba-inu-bulls-on-the-horizon-substantial-selling-pressure-seen-dropping\/","title":{"rendered":"Shiba Inu Bulls On The Horizon? Substantial Selling Pressure Seen Dropping"},"content":{"rendered":"

The price action of Shiba Inu (SHIB) has encountered a significant compression, primarily attributed to substantial selling originating from a prominent institutional market participant. <\/span><\/p>\n

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.\u00a0<\/span><\/p>\n

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.\u00a0<\/span><\/p>\n

Related Reading: Chiliz (CHZ) Empowers Smart Contracts With Upgrades \u2013 Positive Impact On Price?<\/a><\/div>\n

Voyager’s Unloading Spree And Potential Implications On Shiba Inu<\/strong><\/h2>\n

Lookonchain’s data<\/span><\/a> 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.<\/span><\/p>\n

\n

Voyager has been selling assets on #Coinbase<\/a> for the past 4 days and has sold 49 tokens for ~$63M.<\/p>\n

Including:<\/p>\n

781 $BTC<\/a> ($23M);
\n9,570 $ETH<\/a> ($17.6M);
\n1.4T $SHIB<\/a> ($14.4M);
\n234,660 $LINK<\/a> ($1.74M);
\n1.87M $MATIC<\/a> ($1.27M);
\n3M $MANA<\/a> ($1.1M);
\n… pic.twitter.com\/SUGjjQQvja<\/a><\/p>\n

\u2014 Lookonchain (@lookonchain) August 15, 2023<\/a><\/p><\/blockquote>\n

As Voyager completes its selling spree, market watchers are keenly observing the ramifications on SHIB’s value. Notably, SHIB has demonstrated a commendable performance over the last seven days, exhibiting a robust 5.9% rally now trading at $0.00000998 via <\/span>CoinGecko<\/span><\/a>.\u00a0<\/span>While the cryptocurrency faced a 2.4% slump in the past 24 hours, this transient dip may be attributed to broader market sentiments influenced by seemingly unrelated news.<\/span><\/p>\n

<\/p>\n

SHIB market cap currently at $5.8 billion. Chart: TradingView.com<\/a><\/pre>\n
News circulating about potential downgrades within the banking sector might have inadvertently contributed to the 24-hour slump witnessed by SHIB. It’s worth acknowledging that seemingly unrelated developments can trigger ripples of uncertainty across financial markets, ultimately impacting various asset classes, <\/span>including cryptocurrencies like SHIB<\/span><\/a>. Such negative sentiments, although momentary, have the potential to trigger short-term pullbacks.<\/span><\/p>\n
Related Reading: Dogecoin Vs. Bitcoin: Co-Founder Labels BTC Maximalists As \u2018Insecure Losers\u2019<\/a><\/div>\n
Anticipating Price Rally Amidst Voyager’s Exit<\/strong><\/h2>\n
The revelation that Voyager has exhausted its SHIB holdings could potentially pave the way for renewed price momentum. With institutional selling pressure alleviated, the cryptocurrency could be poised to continue its impressive performance from the past week. As SHIB hovers around its current value of $0.00000998, investors and enthusiasts are cautiously optimistic about the prospects of a sustained price rally.<\/span><\/p>\n
Despite the recent slump, SHIB’s overall trajectory remains promising, supported by both its recent rally and the depletion of Voyager’s SHIB holdings. While the impact of institutional selling cannot be ignored, SHIB’s future gains may be bolstered by a reduced supply overhang.\u00a0<\/span><\/p>\n
SHIB’s upcoming performance will undoubtedly be influenced by a complex interplay of factors, ranging from market sentiment to macroeconomic developments.<\/span><\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from CNBC<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
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.\u00a0 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.\u00a0 Related Reading: Chiliz (CHZ) Empowers Smart Contracts With Upgrades \u2013 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 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); … pic.twitter.com\/SUGjjQQvja \u2014 Lookonchain (@lookonchain) August 15, 2023 As Voyager completes its selling spree, market watchers are keenly observing the ramifications on SHIB’s value. Notably, SHIB has demonstrated a commendable performance over the last seven days, exhibiting a robust 5.9% rally now trading at $0.00000998 via CoinGecko.\u00a0While the cryptocurrency faced a 2.4% slump in the past 24 hours, this transient dip may be attributed to broader market sentiments influenced by seemingly unrelated news. SHIB market cap currently at $5.8 billion. Chart: TradingView.com News circulating about potential downgrades within the banking sector might have inadvertently contributed to the 24-hour slump witnessed by SHIB. It’s worth acknowledging that seemingly unrelated developments can trigger ripples of uncertainty across financial markets, ultimately impacting various asset classes, including cryptocurrencies like SHIB. Such negative sentiments, although momentary, have the potential to trigger short-term pullbacks. Related Reading: Dogecoin Vs. Bitcoin: Co-Founder Labels BTC Maximalists As \u2018Insecure Losers\u2019 Anticipating Price Rally Amidst Voyager’s Exit The revelation that Voyager has exhausted its SHIB holdings could potentially pave the way for renewed price momentum. With institutional selling pressure alleviated, the cryptocurrency could be poised to continue its impressive performance from the past week. As SHIB hovers around its current value of $0.00000998, investors and enthusiasts are cautiously optimistic about the prospects of a sustained price rally. Despite the recent slump, SHIB’s overall trajectory remains promising, supported by both its recent rally and the depletion of Voyager’s SHIB holdings. While the impact of institutional selling cannot be ignored, SHIB’s future gains may be bolstered by a reduced supply overhang.\u00a0 SHIB’s upcoming performance will undoubtedly be influenced by a complex interplay of factors, ranging from market sentiment to macroeconomic developments. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from CNBC<\/p>\n","protected":false},"author":557,"featured_media":557880,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1144,8686,83767,4735,84473,83667],"class_list":["post-547456","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-btcusd","tag-ethusd","tag-meme-coins","tag-price-action","tag-shib-price","tag-shiba-inu"],"acf":[],"yoast_head":"\nShiba Inu: Substantial Selling Pressure Seen Dropping<\/title>\n<meta name=\"description\" content=\"The price action of Shiba Inu (SHIB) has encountered a significant compression, primarily attributed to substantial selling originating from a prominent\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/shiba-inu-bulls-on-the-horizon-substantial-selling-pressure-seen-dropping\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shiba Inu: Substantial Selling Pressure Seen Dropping\" \/>\n<meta property=\"og:description\" content=\"The price action of Shiba Inu (SHIB) has encountered a significant compression, primarily attributed to substantial selling originating from a prominent\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/shiba-inu-bulls-on-the-horizon-substantial-selling-pressure-seen-dropping\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-16T07:18:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-27T11:24:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-37.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Christian Encila\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Christian Encila\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/shiba-inu-bulls-on-the-horizon-substantial-selling-pressure-seen-dropping\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/shiba-inu-bulls-on-the-horizon-substantial-selling-pressure-seen-dropping\/\"},\"author\":{\"name\":\"Christian Encila\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/a2d6e9b600c0ed5252bbfc4170c3dd80\"},\"headline\":\"Shiba Inu Bulls On The Horizon? 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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