SHIB’s Recovery Rally Now Faces Critical Test as Hackers Offload Millions in Tokens
- Shiba Inu faces renewed sell-off fears after hackers offload 150 billion SHIB tokens.
- SHIB battles resistance near $0.0000145 as bullish momentum faces critical test.
- Longer-term SHIB forecasts predict over 100% upside if market stability returns.
Shiba Inu (SHIB) is facing fresh selling pressure after hackers offloaded an enormous amount of tokens. Blockchain security firm PeckShield reported that the Bitrue Exploiters, linked to a 2023 breach, exchanged 150 billion SHIB and 756 million Holochain (HOT) tokens.
In return, they acquired approximately 1,500 Ethereum (ETH). A major portion of these funds, particularly 1,050 ETH, has already been laundered through TornadoCash, significantly complicating the transaction trail.
Consequently, fears are rising that SHIB’s market stability could suffer further as the hackers still hold around 5,111 ETH and 16 million DAI, with a combined value nearing $25.5 million. Given the vast number of SHIB tokens involved, investors are bracing for potential heavy selling pressure that could push SHIB into a more volatile and bearish territory.
The post SHIB’s Recovery Rally Now Faces Critical Test as Hackers Offload Millions in Tokens appeared first on Coin Edition.
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SHIB’s Recovery Rally Now Faces Critical Test as Hackers Offload Millions in Tokens
- Shiba Inu faces renewed sell-off fears after hackers offload 150 billion SHIB tokens.
- SHIB battles resistance near $0.0000145 as bullish momentum faces critical test.
- Longer-term SHIB forecasts predict over 100% upside if market stability returns.
Shiba Inu (SHIB) is facing fresh selling pressure after hackers offloaded an enormous amount of tokens. Blockchain security firm PeckShield reported that the Bitrue Exploiters, linked to a 2023 breach, exchanged 150 billion SHIB and 756 million Holochain (HOT) tokens.
In return, they acquired approximately 1,500 Ethereum (ETH). A major portion of these funds, particularly 1,050 ETH, has already been laundered through TornadoCash, significantly complicating the transaction trail.
Consequently, fears are rising that SHIB’s market stability could suffer further as the hackers still hold around 5,111 ETH and 16 million DAI, with a combined value nearing $25.5 million. Given the vast number of SHIB tokens involved, investors are bracing for potential heavy selling pressure that could push SHIB into a more volatile and bearish territory.
The post SHIB’s Recovery Rally Now Faces Critical Test as Hackers Offload Millions in Tokens appeared first on Coin Edition.
Read More