After several weeks of sideways movement, Shiba Inu (SHIB) is showing signs of renewed momentum. The token has successfully reclaimed its 50-day EMA on the daily chart, a pivotal technical level, and is currently trading near $0.0000126.
This potential shift is supported by on-chain data indicating reduced selling pressure, as SHIB's steadily declining exchange reserves suggest investors are moving tokens off exchanges for longer-term holding.
Shibarium Layer-2 Attack and Response
The recent bullish signals follow a major security incident on Shibarium, Shiba Inu's Layer-2 blockchain.
- The Exploit: On September 12, a hacker exploited the network by submitting fake data to Shibarium's Ethereum-linked contracts and staking 4.6 million BONE tokens to manipulate validator checkpoints.
- Impact: The exploit prompted an automatic system shutdown as a safety measure. The attacker ultimately drained approximately $4.1 million in various tokens (ETH, SHIB, and 15 others) from the bridge.
- Response: Following the attack, which caused SHIB's price to drop 13% within 24 hours, the Shibarium team announced the implementation of blacklisting mechanisms on its Plasma Bridge and plans to safely restart paused bridges and prioritize user asset recovery.
Price Prediction and Outlook
Despite the setback, SHIB has started October with a bullish setup, aligning with the historically positive "Uptober" trend, where SHIB saw massive gains in 2021 (+833%).
- Immediate Resistance: SHIB faces a strong ceiling between $0.000012–$0.000013, where the 50-day and 200-day EMAs have converged.
- Breakout Target: A decisive break of the $0.0000128–$0.0000130 range could set up a path toward $0.00001410, which represents a potential 11%–40% rally towards the next major resistance cluster at $0.000015–$0.000018 (highs last seen in July).
- Immediate Support: The key support level remains at $0.00001200.
Failure to break the immediate resistance leaves SHIB vulnerable to renewed downward pressure.
October 2025, Cryptoniteuae