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- Shiba Inu (SHIB) price experiences a rise accompanied by substantial trading volumes, indicating robust market interest.
- Hackers associated with the Poly Network breach liquidated significant amounts of SHIB tokens.
Shiba Inu (SHIB), the prominent meme coin, sees its price increase alongside considerable trading volumes. In spite of a widespread sell-off, SHIB has managed to maintain its value above the $0.000007679 mark, achieving a price increase of approximately 1.5%. The price of Shiba Inu continued its upward trend, showcasing resilience following a recent sale of 94 billion tokens.
Poly Network, a decentralized finance (DeFi) platform, has suffered a second attack within a two-year period. The platform has recently declared a halt to all operations while it investigates the breach. Data from Lookonchain, a cryptocurrency intelligence platform, reveals that the attackers executed large-scale sales of SHIB tokens in exchange for Ether.
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Nonetheless, the surge in SHIB’s price and the ongoing trading volumes reflect considerable market interest in the meme coin. In spite of the extensive sell-off and the security incident faced by Poly Network, SHIB has demonstrated resilience in its price recovery.
As of the latest update, Shiba Inu was trading at $0.000007675 with a 24-hour trading volume exceeding $166 million, which has increased by around 33%. Additionally, the burn rate of Shiba Inu has risen by 7.74% over the past 24 hours and 80% over the week.
Shiba Inu (SHIB) Price Chart (Source: CoinMarketCap)
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