Key Notes
- Shibarium hack drains $2.4 million, shaking confidence in Shiba Inu and triggering sharp meme coin sell-offs.
- Dogecoin, Shiba Inu, and other meme coins tumble as large transfers and panic selling hit the market.
- Meme coins remain highly sensitive to news, with total market value falling 8% in 24 hours.
Meme coins are facing another round of losses after a hack on Shiba Inu’s
SHIB
$0.000013
24h volatility:
4.2%
Market cap:
$7.70 B
Vol. 24h:
$308.89 M
Shibarium network took more than $2.4 million from the project.
The attack has shaken confidence in the market and has pulled down prices of the biggest names in the space, including Dogecoin
DOGE
$0.26
24h volatility:
4.8%
Market cap:
$39.93 B
Vol. 24h:
$5.94 B
and Shiba Inu.
Shibarium Hack Sends Shockwaves
The downturn began when Shibarium, a layer-2 network linked to Shiba Inu, was struck by a flash loan attack. The attacker used 4.6 million BONE
BONE
$0.20
24h volatility:
2.5%
Market cap:
$48.76 M
Vol. 24h:
$4.13 M
tokens to take control of the keys that are supposed to approve transactions on the network.
Once they had that control, they slipped through fake approvals and pulled money from the bridge that links Shibarium with Ethereum
ETH
$4 523
24h volatility:
1.6%
Market cap:
$546.58 B
Vol. 24h:
$34.92 B
.
About $2.4 million in Ethereum and Shiba Inu was taken before the team froze the 4.6 million BONE. Developers stopped the damage from spreading further, as some of the BONE tokens used in the attack were locked under staking rules.
UPDATE 13/09/25
What we know so far about the recent incident 👇
How the exploit was executed:
• The attacker used funds from the bridge hack in the same block as the attack to acquire 4.6M BONE to temporarily gain validator voting power, attempting to do it in one… https://t.co/4Ft1VMxeBv
— Shib (@Shibtoken) September 13, 2025
The impact was immediate, though. Shiba Inu fell over 5% in 24 hours, moving from $0.000014156 to about $0.00001359. At one point, it touched a low of $0.000013547.
More than 1 trillion SHIB tokens traded hands in a single day, showing clear selling pressure. BONE also slipped, dropping back to 20 cents after briefly spiking.
Dogecoin, the largest meme coin by market value, also tumbled. It is currently down nearly 8.75% in 24 hours and is trading around $0.2645.
The decline was made worse by a huge transfer of more than 119 million DOGE, worth over $34 million, sent to the OKX exchange.
Big moves like this usually mean someone plans to sell, which adds to worries of more losses. Meme coins such as Pepe
PEPE
$0.000011
24h volatility:
4.3%
Market cap:
$4.53 B
Vol. 24h:
$856.10 M
, Bonk
BONK
$0.000023
24h volatility:
6.6%
Market cap:
$1.78 B
Vol. 24h:
$424.43 M
, and Floki
FLOKI
$0.000095
24h volatility:
5.3%
Market cap:
$918.28 M
Vol. 24h:
$103.97 M
also dropped sharply, losing about 8-10% in a day. Altogether, the total value of meme coins fell to around $76.2 billion, down more than 8% in just 24 hours.
The selloff shows how fragile meme coins are. Unlike larger cryptocurrencies, they rely mostly on hype and online communities. That makes them much more sensitive to bad news, whether it is a hack or a big holder moving coins to an exchange.
For now, attention is on the Shiba Inu team and whether they can restore trust in Shibarium. Traders are also watching Dogecoin closely, as more large transfers could keep pressure on the entire meme coin market in the days ahead.
PepeNode Presale Raises $1.15M as Mine-to-Earn Meme Coin Takes Off
While the broader meme coin market struggles, PepeNode (PEPENODE) is capturing the crypto world’s attention. Its unique virtual mining system lets holders build and upgrade digital rigs to earn rewards, making it the first true mine-to-earn meme coin in the industry.
The PEPENODE ecosystem combines meme coins with virtual mining, offering users opportunities to earn, burn supply, and grow their rigs. With its innovative approach, it’s quickly becoming one of the best crypto presales of 2025.
Current Presale Stats of PepeNode
Current price: $0.0010575
Amount raised so far: $1.15M
Ticker: PEPENODE
PEPENODE will offer users up to 1396% in staking rewards. Purchases can be completed using credit or debit cards, as well as cryptocurrency. Check out our guide on how to buy PepeNode if you want to join the presale!
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
Source: https://www.coinspeaker.com/from-doge-to-shib-why-are-meme-coins-crashing-today/