Hacker theft of SHIB triggers massive sell-off pressure
Blockchain security company PeckShield recently disclosed that transactions related to the Bitrue exchange hack in 2023 led to the theft of 150 billion SHIB and 756 million Holochain (HOT) tokens. The hacker obtained approximately 1,500 ETH through this operation, with 1,050 ETH laundered via TornadoCash, increasing tracking difficulty.
With these stolen SHIB tokens still held by the hacker, approximately 5,111 ETH and 16 million DAI valued at nearly $25.5 million, the market faces severe sell-off pressure. Investors need to be cautious, as SHIB may fall into a more turbulent market range.
Hacker incident exposes SHIB recovery risks
In addition to the direct threat of token sell-offs, the cyber attack on Bitrue exchange has once again cast a shadow over SHIB's recovery momentum.
Although SHIB has rebounded at the support level of $0.0000126 to $0.0000128, showing some signs of recovery, the hacker's sell-off may weaken current market sentiment and affect SHIB's long-term performance.
Technical analysis: Rebound momentum awaits verification
Despite SHIB rebounding at the key support level, with the MACD showing a bullish crossover and the RSI at 62.04 suggesting some bullish momentum in the market, the risk of hacker sell-offs still exists, which may pose strong resistance to SHIB's breakout trend. Currently, SHIB must hold the resistance level of $0.0000145 to confirm the breakout.
Long-term outlook: Can SHIB double by 2025?
According to Coincodex's forecast, if the market stabilizes, SHIB is expected to see significant growth by December 2025. Analysts predict that by the end of 2025, SHIB's trading price will be between $0.00002837 and $0.00002980, with a potential increase of over 106%, providing investors with a chance to double their returns.
