SELL SHIBA INU COIN BINANCE UPDATE

This suggests buyer momentum, aiding in keeping Shiba Inu price afloat.Īn increase in buying pressure from the current price of $0.00000757 could see Shiba Inu’s market value. The Relative Strength Index (RSI) has not tipped south, while the Awesome Oscillators (AO) histograms are green. While all signs point to the burn rate being a factor, momentum indicators also credit SHIB bulls. The token holds above the $0.00000720 support level for the twelfth day. Shiba Inu (SHIB) price has resisted selling pressure from the 94 billion tokens minted for Ethereum. Shiba Inu Forecast As SHIB Sustains Above $0.00000720 The tokens go to a frozen private address, rendering them unrecoverable.

SELL SHIBA INU COIN BINANCE UPDATE

HOURLY SHIB UPDATE $SHIB Price: $0.00000754 (1hr -0.59% ▼ | 24hr -0.83% ▼ )įor clarity, token burning is a mechanism meant to reduce the supply of an asset. Notably, the network burned 1.18 SHIB tokens in a single transaction over the last hour of press time. This represents a 151.2% increase from the past day. While this should have weighed heavy on SHIB, causing a slump in market value, it did not! Experts attribute this to the ongoing token burn mechanism.Īccording to the SHIB burn tracker, almost 19.5 million Shiba Inu tokens were burned over the last 24 hours. The 94 billion Shiba Inu tokens exchanged for 360 billion represent massive selling pressure.

Our security team is assisting them in its investigations though. We do not support deposits from this network. Assuring users they were unaffected, CZ articulated that Binance does not accept deposits from the Poly Network. a8eqbgy1VmĪmid the exploit, Binance CEO Changpeng Zhao commented in a feat to absolve his exchange from any exposure. Hackers have sold 94B $SHIB for 360 $ETH, 495M $COOK for 16 $ETH and 15M $RFuel for 27 $ETH.Īnd we noticed that hackers are transferring assets and 1 $ETH to new wallets, most likely for sale. It seems that #PolyNetwork was attacked again, hackers minted a lot of assets. Lookonchain analytics platform confirmed these statistics in a post after confirming that the exploiters were moving assets to new wallets in readiness for sale. They also exchanged 495 million COOK tokens for 16 ETH and 15 million RFuel for 27 ETH. Reportedly, the exploiters found liquidity for the meme coin, exchanging 94 billion for 360 Ether ( ETH). While Binance Coin and Binance USD were spared selling pressure due to a lack of liquidity, Shiba Inu did not. Noteworthy, the Metis blockchain locked the tokens minted on the network.Īll minted METIS tokens from PolyBridge have been locked on BNBChain by PolyNetwork and have limited liquidity.ĩ4B Shiba Inu Tokens Exchanged For Ethereum Metis developers confirmed this dilemma, citing a lack of “sell liquidity available” for the BNB and BUSD.

Nevertheless, in a dramatic turn of events, the bad actors could not monetize the colossal chunk of loot because of a liquidity shortage. The exploiters’ wallet could have held more than $42 billion worth of loot from this attack alone. Other exploits included 999 trillion SHIB tokens minted in the Heco blockchain and millions more on Avalanche, Polygon, and several other outlets. In regards to the newly minted BNB and BUSD on Metis, there is no sell liquidity available. We are aware of Polybridge’s ongoing situation, and are currently in contact with the PolyNetwork team to minimize the impact of the attack and further asses the situation. With this move, they managed to mint 24 billion Binance USD ( BUSD) and Binance coin (BNB) on the Metis blockchain. To do so, it locks value on one network and then releases it on the next. This feature facilitates users in swapping tokens from one blockchain to the next via smart contracts. The hackers exploited the smart contract function of the cross-chain protocol Poly Network’s bridge tool. We are actively engaging with relevant parties and diligently assessing the extent of the affected assets. The bad actors made away with 94 billion Shiba Inu tokens based on the announcement.ĭear users, we would like to inform you that Poly Network is temporarily suspending its services due to a recent attack. In a recent announcement, the decentralized finance platform Poly Network revealed a massive exploit. PolyNetwork Hacked, Shiba Inu, BNB, and BUSD Tokens Among Loot The meme coin sustains above a crucial support level, suggesting the network’s token burn mechanism is working. Shiba Inu ( SHIB) price is down a negligible 1%, a remarkable feat considering selling pressure from billions of SHIB tokens sold over the last 24 hours. Join Our Telegram channel to stay up to date on breaking news coverage

Sell shiba inu coin binance