- An exploit of Shibarium drained approximately $2.4 million, shaking investor confidence in Shiba Inu.
- Shiba Inu (SHIB) recently tested its 200-day SMA support after a 13% two-day drop.
- Buyers control Shiba Inu futures, indicating a potential breakout above $0.000017.
Shiba Inu became the focus of market attention following a sudden sell-off triggered by a major exploit on its Shibarium network.
The breach has shaken investor trust, driven down meme-coin prices, and left the community questioning the security of one of the ecosystem’s most prominent projects.
At the same time, traders are watching technical indicators closely, which suggest a possible breakout could be on the horizon if key support levels hold.
Shibarium hack: what happened?
The Shibarium exploit, which initially removed an estimated $2.4 million from the bridge, was executed through a carefully orchestrated flash loan attack.
By borrowing millions of Bone ShibaSwap tokens, the attacker temporarily gained majority control over validator keys and signed malicious state changes that drained 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
Security firm Tikkala Research later confirmed the exploit expanded further, with compromised signer keys linked to ShibaSwap pushing total losses 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 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 acted quickly to limit further losses, freezing staking and withdrawal functions and migrating funds to a multi-signature hardware wallet.
Security teams from PeckShield, Hexen, and Seal911 joined the investigation, and the Shiba Inu team publicly offered a bounty directly to the attacker through an unusual on-chain proposal.
The bounty offers five Ether in exchange for returning the stolen assets. The offer remains active for thirty days, shrinking after the first week.
Leading Shiba Inu ambassador Shytoshi Kusama also broke weeks of silence to reassure the community that he remains actively involved.
Kusama dismissed rumors of his absence as “absurd” and confirmed he is working with lead developer Kaal Dhairyan and others in a “war room.”
He acknowledged the complexity of the situation and urged patience as the team coordinates next steps with law enforcement and security specialists.
Market reaction
The impact was immediate. Shiba Inu fell more than 13% in 48 hours, dropping from September highs around $0.00001484 to an intraday low near $0.00001297.
The decline tested the token’s 200-day simple moving average, a critical support level that traders are now monitoring closely.
Other ecosystem tokens were also hit. BONE lost over a third of its value in just a few days, while K9 Finance’s KNINE token dropped about 10%.
Shiba Inu price outlook
Despite the hack and the uncertainty that followed, Shiba Inu’s market sentiment has not completely collapsed.
Derivatives data show buyers still dominate SHIB futures, suggesting resilience even as spot prices hover near support.
Technically, SHIB’s price has tightened inside a symmetrical triangle and consolidated around $0.00001316.
A decisive breakout above $0.000017 could open the path toward $0.00005, although that scenario depends on whether confidence in the network can be restored.