Shiba Inu (SHIB) rose 1.25% to $0.055775 on March 12, 2026, as Shiba Inu tested critical support amid a multi-week descending channel pattern, signaling potential for a trend reversal. Simultaneously, controversy emerged as K9 Finance claimed exclusion from the project’s compensation initiative for victims of a 2025 network hack, despite being a major affected party, adding uncertainty to ecosystem sentiment.
Shiba Inu (SHIB) saw renewed market activity as traders monitored key technical levels and internal ecosystem developments. The token’s 24-hour trading volume simultaneously dropped over 32% to approximately $140.5 million, according to Binance data as of March 12, 2026.
Crypto analyst Bit Amberly reported that SHIB is testing the lower boundary of a falling wedge formation on the 3-day chart. The Binance chart shows SHIB in a prolonged descending channel, with price mostly remaining below the 50-period moving average.
The Shiba Inu ecosystem recently launched the SOU NFT initiative to compensate users affected by the September 2025 Shibarium hack. However, K9 Finance claims it has been excluded from the program despite being one of the largest impacted communities.
K9 Finance cited a year-end statement from Shiba Inu developer Kaal Dhairya promising restitution for affected users. The company urged users to withdraw assets from its Bonecrusher platform before a scheduled sunset date and contact the SHIB team with unresolved claims.
