- Shibarium exploit drained $2.4 million, shaking investor confidence in Shiba Inu.
- Shiba Inu (SHIB) recently tested its 200-day SMA support after a two-day drop of 13%.
- Buyers dominate Shiba Inu futures, hinting at a possible breakout above $0.000017.
Shiba Inu became the focus of market attention after a sudden downturn triggered by a major exploit on its Shibarium network.
The exploit dented investor confidence, pushed meme‑coin prices lower, and raised questions about the security of one of the most prominent meme‑coin ecosystems.
At the same time, traders are closely watching technical indicators that suggest a potential breakout could appear on the horizon if key support and resistance levels hold.
Shibarium hack: what happened?
The Shibarium breach, which removed roughly $2.4 million from the Shibarium bridge, was executed using a carefully planned flash‑loan attack.
By borrowing millions in Bone ShibaSwap tokens, the attacker temporarily obtained increased control over validator voting power and signed malicious exit requests to extract 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 that the exploit extended further after compromised signer keys linked to ShibaSwap pushed overall 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 (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 acted quickly to limit further losses by disabling staking and unstaking functions and moving funds to a multisig hardware wallet.
Security teams from PeckShield, Hexns and Seal911 joined the investigation, and the Shiba Inu team directly appealed to the attacker with an unconventional bounty offer in the network.
The bounty offers five Ether in exchange for returning the stolen assets; the offer remains active for thirty days and decreases after the first week.
Shiba Inu lead ambassador Shytoshi Kusama broke a period of silence to reassure the community that he remains deeply involved.
Dismissing rumors of 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 urged patience while the team coordinates next steps with law enforcement and security specialists.
Market reaction
The impact was immediate. Shiba Inu fell more than 13% over 48 hours, sliding from a September high of $0.00001484 to an intraday low of $0.00001297.
The token tested its 200‑day simple moving average, a critical support zone that traders are now monitoring closely.
Other ecosystem tokens were affected as well. Bone lost over a third of its value within days, while KNINE from K9 Finance dropped around 10%.
Shiba Inu price outlook
Despite the hack and the uncertainty that followed, market sentiment for Shiba Inu has not collapsed entirely.
Derivatives data for Shiba Inu from Coinglass show buyers still dominating futures positions, signaling resilience even as spot prices hover near support.
Notably, SHIB has been consolidating within a symmetrical triangle pattern, clustering around roughly $0.00001316.
A decisive breakout above $0.000017 could open the door toward $0.00005, although that scenario depends on whether confidence in the network can be restored and whether broader market conditions remain supportive.
Traders and investors will be watching on‑chain developments, security investigations and any signs of asset recovery closely, as these factors will shape SHIB’s path in the near term.