Shiba Inu Faces 150 Billion Token Sell-Off Amid Hacker Laundering

Shiba Inu (SHIB) is currently facing renewed selling pressure due to the offloading of a significant amount of tokens by hackers. According to blockchain security firm PeckShield, the Bitrue Exploiters, who were involved in a 2023 breach, exchanged 150 billion SHIB and 756 million Holochain (HOT) tokens for approximately 1,500 Ethereum (ETH). A substantial portion of these funds, specifically 1,050 ETH, has already been laundered through TornadoCash, making it difficult to trace the transactions.

This incident has raised concerns about the potential impact on SHIB’s market stability. The hackers still hold around 5,111 ETH and 16 million DAI, with a combined value nearing $25.5 million. The vast number of SHIB tokens involved in this transaction has led investors to brace for potential heavy selling pressure, which could push SHIB into a more volatile and bearish territory.

Beyond the immediate concerns over token dumping, this event underscores the lingering risks from previous cyberattacks on exchanges. The 2023 breach of Bitrue resulted in a loss of nearly $23 million, and the repercussions are still being felt today. This incident casts doubt on the sustainability of SHIB’s recent bullish momentum. Despite Shiba Inu’s recent recovery, with the token rebounding from critical support levels, the threat of mass liquidation could easily undermine current investor sentiment.

SHIB is currently battling key resistance between $0.0000142 and $0.0000145, a zone where sellers previously took control. Technical indicators show a mixed but cautiously optimistic picture. The MACD indicator displays a bullish crossover, and the RSI stands at 62.04, suggesting bullish strength. However, the possibility of massive sell-offs from the hackers could quickly shift the balance. It is crucial for SHIB to sustain above current resistance to confirm a breakout towards the $0.0000145 target range.

Looking ahead, the longer-term outlook for Shiba Inu appears promising if the market stabilizes. According to the analyst's forecast, SHIB is predicted to trade between $0.00002837 and $0.00002980 by December 2025. This suggests a potential gain of over 106% from current levels, offering investors a chance to double their returns. However, the current situation with the hackers offloading tokens adds a layer of uncertainty to this optimistic forecast.