Lucie, the official marketing lead of the Shiba Inu team, has issued a message to the Shiba Inu army, urging them to remain calm despite the recent hacker attack on WazirX. The hack alone cut several trillion SHIB coins worth 26,535 ETH, equivalent to $92 million. Though speaking about the compensation, the loss is considerable, and she quickly pointed out that compared to the SHIB volume, the stolen amount is peanuts; therefore, we may see buying opportunities at this dip.
Also Read:WazirX Faces Security Breach as $235 Million in Funds Moved Suspiciously
Market Makers Mitigate Shiba Inu Price Drop
After the hack, SHIB’s price dropped significantly by 11% after the incident, and significant players entered the market. Investigative Smart Wallet tracker @lookonchain disclosed that almost all market makers, such as Wintermute, buy SHIB from DeFi platforms and transfer it to CEX for arbitrage. This action helped stabilize the price, which has since attempted to recover, gaining slightly over 4% before another decline.
Over the past 24 hours, SHIB’s price has fluctuated, currently trading at $0.00001720 after a significant drop from $0.00001891 on Thursday. This figure was reduced sharply to $0.00001891 on Thursday. Whale Alert also noted another significant Crypto Mixing of 3,632,752,465,343 SHIB, equivalent to $63,282,547, from two anonymous wallets linked with the WazirX hack case.
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Specifically, in the message, Lucie apologized to the SHIB army and wished the individuals who lost their coins on behalf of the hackers to get their money back. She tried to calm the community down by pointing out that the stolen SHIB does not affect the overall volume by much and that the dip is an opportunity to buy.
In conclusion, the Wazir hack disrupted the market and impacted investors, and the SHIB community’s defense demonstrates how to proceed. It identifies Lucie’s message as a tool for replacing consumer confidence and promoting systematic purchasing during an unstable economic period.
Also Read: Shiba Inu Burn Rate Surges 3,988% as SHIB Army Intensifies Efforts
Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.