Shiba Inu price continued its climb on Saturday, September 13, as activity on the Shibarium network picked up and SHIB holdings on exchanges declined. The token reached $0.000014, its highest in over a month, and now sits 25% above this month’s low.
Key Points
- Shiba Inu price extended its recovery momentum over the weekend.
- Shibarium, the project’s layer-2 blockchain, reported a security incident.
- SHIB supply on exchanges dropped further, hinting at reduced selling pressure.
Shibarium TVL Rises Despite Security Concerns
Fresh data revealed that Shibarium’s total value locked (TVL) surged by nearly 40% in just 24 hours, hitting $2.28 million — the highest level since June. The increase came after developers rolled out a ShibaSwap upgrade featuring a unified trading module and streamlined liquidity creation. The update also expanded Shibarium’s multi-chain support to Ethereum, Polygon, and Arbitrum.
Although ShibaSwap recently faced an attempted hack, the impact was minimal.
The attacker gained temporary validator power using a flash loan to acquire 4.6 million BONE tokens but failed to drain major assets. Only a small portion of ETH/SHIB was affected, and the BONE tokens remain locked — a development that pushed BONE’s price up by more than 40% in a single day.
Falling SHIB Balances on Exchanges
The amount of SHIB available on exchanges continues to decline, suggesting that holders are choosing to accumulate instead of selling. Exchange balances have dropped to around 283 trillion tokens, down from 292 trillion in August.
Technical Analysis: More Upside for Shiba Inu Price
On the daily chart, SHIB has bounced from last week’s low of $0.00001170 to $0.000015. The token remains above its long-term ascending trendline and has moved past the 50-day moving average. Technical indicators, including the Percentage Price Oscillator, are signaling bullish momentum.
If the rally continues, this coin price could approach the next resistance at $0.00001770, reflecting a potential 20% rise from current levels.
