Shiba Inu Price Prediction: SHIB Eyes $0.0000183 After Breakout Despite Bridge Exploit
SHIB has broken out of the multi month symmetrical triangle and is now above $0.0000144 as the ecosystem...
Quick overview
- SHIB has broken out of a multi-month symmetrical triangle, trading above $0.0000144 despite recent turbulence from a Shibarium bridge exploit.
- Developers froze 4.6 million BONE tokens linked to the attack, which was a flash loan exploit that compromised validator keys.
- In response to the attack, Shiba Inu paused staking and engaged cybersecurity firms, leading to a 41% increase in BONE and over 15% in SHIB prices.
- The Shibarium bridge is crucial for Shiba Inu's strategy, supporting faster transactions and ecosystem growth despite ongoing security concerns.
SHIB has broken out of the multi month symmetrical triangle and is now above $0.0000144 as the ecosystem is going through some turbulence after the Shibarium bridge exploit. Developers froze 4.6 million BONE tokens linked to the attack after blockchain security firm PeckShield flagged suspicious validator activity.
The attack was a flash loan exploit that allowed hackers to compromise validator keys. But since the tokens were delegated to Validator 1, the team froze assets before they could be moved. In response, Shiba Inu paused staking, transferred funds into a multisig hardware wallet and engaged cybersecurity firms including PeckShield, Hexens and Seal 911.
While the attack was concerning, the response boosted confidence. BONE is up 41% in 24 hours and SHIB is up over 15% showing the markets took the defense as a positive sign.
Shibarium’s Role and Ecosystem Growth
The Shibarium bridge is the key to Shiba Inu’s strategy, enabling faster, cheaper transactions across Ethereum and Shibarium and supporting DeFi, gaming and metaverse projects.
Updates:
- LEASH V2 migration using fixed ratio model.
- ShibaSwap upgrades to unify multi-chain trading and liquidity.
- Community warnings against phishing scams after fake Discord servers targeted users.
Despite the security concerns, the development momentum shows Shiba Inu is serious about going beyond meme-coin status.
SHIB Technical Outlook: Bulls Push Higher
SHIB is trading at $0.0000144, above the 50 day EMA at $0.0000128 and testing the 200 day EMA around $0.0000150. This is the first time it’s broken out above the downtrend since July.
Candlestick pattern is also bullish. Recent long green candles are a three white soldiers pattern, often a reversal and sustained buying pressure. RSI is at 69, strong momentum but getting overbought. A Doji or spinning top near $0.0000150 could be short term hesitation but the overall structure is bullish.
Key levels:
- Resistance: $0.0000156, $0.0000170, $0.0000183
- Support: $0.0000141, $0.0000129For traders, long above $0.0000145 with stop below $0.0000129.
Targets $0.0000170-$0.0000183. For newbies, just remember SHIB just broke a big level and if buyers hold, next leg up could be fast.
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