THORChain Founder’s Wallet Hacked for $1.2M — Could RUNE Face More Selling Pressure Ahead?
A major security breach has occurred involving the wallet of THORChain's founder, with $1.2 million stolen. This development raises concerns about the potential impact on RUNE, THORChain's native token. Market participants are anxious, speculating whether this incident could trigger increased selling pressure. The article explores this unfolding situation and its possible effects on the market.
THORChain (RUNE) Edges Towards Breakout Amid Market Moves
Source: tradingview
THORChain's RUNE is currently trading between $1.14 and $1.27. This range shows potential excitement among traders. Recent data indicates a 12% rise in just one week. While the coin has faced a 10% drop in the past month, it boasts an 18% gain over six months. The nearest resistance is set at $1.31. If RUNE surpasses this, it could climb to $1.44, marking an 11% increase from current levels. With indicators like RSI and MACD hinting at momentum, RUNE might rally further if market conditions align. This paints a hopeful picture for RUNE holders eyeing future bullish runs.
Conclusion
The recent incident involving the founder’s wallet hack has raised concerns about the potential impact on RUNE. A significant theft of $1.2 million could trigger more selling pressure on the coin. Market response will be key to watch in the coming days. How RUNE navigates this situation could affect its short-term performance. Investors may want to observe caution in the near future.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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