- The Shibarium exploit drained $2.4 million, rattling Shiba Inu investors’ confidence.
- Shiba Inu (SHIB) recently tested its 200-day SMA support after a 13% drop in two days.
- Buyers are dominating Shiba Inu futures, hinting at a possible breakout above $0.000017.
Shiba Inu has become the center of market attention following a sudden downturn triggered by a major exploit on its Shibarium network.
The breach shook investor confidence, pushed meme coin prices lower, and left the community questioning the security of one of the most prominent meme-coin ecosystems.
At the same time, traders are watching technical indicators closely, which suggest a potential breakout could be on the horizon if key levels hold.
The Shibarium hack: what happened?
The Shibarium hack, which drained an estimated $2.4 million from the Shibarium bridge, was carried out via a carefully executed flash loan attack.
By borrowing millions in Bone ShibaSwap tokens, the attacker temporarily gained majority control of validator voting power and signed a malicious state, diverting funds from the network.
UPDATE 13/09/25
What we know so far about the recent incident 👇
How the exploit was executed:
• The attacker used funds from the bridge hack in the same block as the attack to acquire 4.6M BONE to temporarily gain validator voting power, attempting to do it in one…
— Shib (@Shibtoken) September 13, 2025
Tikkala Research, a blockchain security firm, later confirmed the exploit extended further. Compromised signer keys tied to ShibaSwap pushed the total loss closer to $2.8 million.
It seems like multiple signer keys appear to have leaked in Shibaswap, causing a $2.8M loss today @Shibtoken. The attacker (link) withdrew multiple times by providing legit Merkle leaf exit requests from a root signed by 10 different addresses. The “legit”…
— Tikkala Security (@TikkalaResearch) September 12, 2025
Developers moved quickly to prevent further losses, freezing staking and unstaking functions while transferring funds to a multisig hardware wallet.
Security teams from PeckShield, Hexens and Seal911 joined the investigation, and the Shiba Inu team reached out directly to the attacker with an unusual on-chain bounty offer.
The bounty offers five Ether in exchange for returning the stolen assets. The offer remains active for thirty days and begins to reduce after the first week.
Shiba Inu’s lead ambassador, Shytoshi Kusama, broke weeks of silence to reassure the community that he remains deeply involved.
Rejecting rumours of his absence as “absurd,” Kusama confirmed he is working alongside lead developer Kaal Dhairya and others in what he described as a “war room.”
Kusama acknowledged the complexity of the situation and asked for patience while the team coordinates next steps with law enforcement and security specialists.
Market reaction
The fallout was immediate. Shiba Inu dropped more than 13% over 48 hours, falling from a September high of $0.00001484 to an intraday low of $0.00001297.
The decline tested the token’s 200-day simple moving average—a key support zone traders are now watching closely.
Other tokens tied to the ecosystem were not spared. BONE lost more than one-third of its value in a few days, while K9 Finance’s KNINE token slipped about 10%.
Shiba Inu price outlook
Despite the hack and ensuing uncertainty, market sentiment around Shiba Inu has not completely collapsed.
Derivatives data for Shiba Inu indicate that buyers still dominate, which suggests resilience even as spot prices approach support.
Technically, SHIB has been consolidating inside a symmetrical triangle pattern, with price clustering around $0.00001316.
A decisive break above $0.000017 could open the way toward $0.00005, although that path depends on whether confidence in the network can be restored.