Shiba Inu leader's mysterious return: Can SHIB break through the shadow of Hacker attacks and achieve a 2x Rebound in price?

The anonymous leader of Shiba Inu (SHIB), Shytoshi Kusama, has returned to the public eye at a critical moment for the project. This return comes after its L2 network Shibarium faced a $2.3 million hacker attack, and Kusama's appearance aims to soothe community sentiment and boost market confidence. At the same time, he proposed the idea of the community electing new leaders, injecting new hope for the project's Decentralization governance and long-term development. Despite facing challenges from the hacker attack and competing coins, Shiba Inu's price technicals still show bullish potential.

Shytoshi Kusama breaks the silence, responds to the hacker attack

The mysterious figure of Shiba Inu, Shytoshi Kusama, recently spoke out on social media platform X, breaking his previous silence. His return coincides with the Shibarium network suffering a "flash loan" style attack, resulting in millions of dollars in assets being stolen. Kusama expressed confidence in the project's core developer, Kaal Dhairya, and emphasized that his absence does not mean the project is stagnant. Following the hacker attack, the team immediately suspended staking and un-staking functions to prevent further losses, but this incident has undoubtedly shaken the community's confidence in the ecosystem.

Competition and Leadership Changes: SHIB Faces New Challenges

While Shiba Inu is busy dealing with hacker attacks, its competitors such as Dogecoin (DOGE) and Pudgy Penguins (PENGU) are expected to gain their own exchange-traded funds (ETFs), which may attract the attention of institutional investors and weaken the focus on SHIB. This hacker attack not only hit SHIB's development momentum but also raised new concerns about its ability to attract long-term supporters and large-scale capital.

To address these challenges, Kusama proposed a bold idea in his update: to elect a new project "president" through community elections. This initiative aims to increase the project's transparency and long-term credibility, providing a more solid leadership foundation for the future development of Shiba Inu.

Technical Analysis: Will the price experience a 2x rebound?

(Source: TradingView)

From a technical perspective, $0.00001250 is a key support level that perfectly aligns with SHIB's long-term trend line. If the market can hold this level, it may serve as a launchpad for a price breakout above $0.00001700. Such a breakout would confirm the continuation of the bullish trend and could potentially drive the price up to $0.000028, representing a 116% potential rise from current levels.

Conclusion

Shytoshi Kusama's return and the suggestion to propose new leadership through community elections brings new hope for Shiba Inu's recovery after experiencing hacker attacks and market competition. Despite facing short-term challenges, the potential leadership change and favorable technical indicators suggest that SHIB may welcome a new rise cycle. The cryptocurrency community and SHIB investors will closely monitor Shiba Inu's governance reform process and whether it can regain momentum in the increasingly competitive crypto market.