Hacker attack hits SHIB hard

SHIB price fell under pressure after a brief rebound, and hacker attacks and massive sell-offs exacerbated market pressure. The surge in whale activity and burn rates brought new hope to SHIB.

Recently, a hacker stole and sold 5.43 trillion SHIB tokens, worth about $92 million, equivalent to 26,535 ETH. This incident had a great impact on the SHIB market, causing a sharp drop in prices.

Despite the continued decline in SHIB prices, large investors remain bullish on its potential. According to Santiment data, SHIB whale activity has surged significantly in the past few days, reaching 52%. This means that large investors are buying SHIB in large quantities, and they may think this is a bargain hunting opportunity.

In order to reduce the circulating supply, the SHIB community has been actively burning SHIB tokens to stabilize the price. In the past 24 hours, the SHIB burning rate has soared to 454.08%, a total of 48 million SHIBs have been burned.

The future of SHIB is still uncertain. The hacking incident and the huge sell-off had a negative impact on the market, but the surge in whale activity and burning rate has brought new hope. The only factors that may affect the price of SHIB now are the Ethereum price trend, the overall sentiment of the cryptocurrency market, the burning activity of the SHIB community, and new projects.