Bankrupt Crypto Broker Shocks Market, Shifts 2,500 ETH and 250 Billion Shiba Inu (SHIB)

Bankrupt crypto broker Voyager has transferred $7.6 million in crypto assets within the last 24 hours, blockchain security firm PeckShield reports.

The recent fund shifts include 2,500 ETH and 250 billion SHIB, which were both transferred to Coinbase, PeckShield states.

#PeckShieldAlert Voyager-labeled address has transferred ~7.6M worth of cryptos, including 2,500 $ETH & 250B $SHIB to Coinbase within the last 16 hourshttps://t.co/uPHs0c4woj pic.twitter.com/bdGa2QO6Ut

— PeckShieldAlert (@PeckShieldAlert) February 20, 2023

The move coincides with the most recent market recovery, which has increased both the price and trading volume of Shiba Inu. According to CoinMarketCap data, SHIB trading volume is up 155% in the last 24 hours, with $555,748,171 worth of coins swapped.

As reported, Voyager made similar transfers in the past week, wherein it sent 250 billion SHIB to Coinbase and 15,000 ETH to Binance US and Coinbase.

SHIB price action

At the time of publication, SHIB was up 5.15% in the last 24 hours at $0.00001369 after reaching intraday highs of $0.00001399.

After rebounding from lows of $0.00001256 on Feb. 16, Shiba Inu (SHIB) steadily ticked higher, reaching highs of $0.000014 on Feb. 19. The dog-themed cryptocurrency is set to mark its fourth consecutive day in the green as its price tapped intraday highs of $0.00001377 at press time.

The RSI has flattened slightly above the neutral mark of 50, suggesting the possibility of range trading before a major move.