INIT is still down nearly 40% from its 0.217 peak on 11/10! Initia ($INIT ) rebounds 27% from lows after security-related shutdown turmoil
Initia (INIT) bounced from its lows today, surging 27.70% in a single day to $0.13079, but remains far below its interim peak of $0.2170 on November 10!
Here’s what happened with the security incident and the rebound:
1. Lingering security concerns: Following unauthorized transfers (about $600,000 in USDC was moved out), the mainnet and related Rollups were urgently paused. The plan for a full chain restart remains uncertain;
2. Nature of the rebound: Today’s move was purely a technical bounce from a lower support level—not the result of a new product launch.
Conclusion: This is a typical rebound from the lows after a security-related shutdown. $0.1200 was the key lower-bound lifeline in recent days. Until the mainnet restart is fully implemented, remain wary of further surprises. Trade quickly and avoid holding a large position for the long term!
#INIT #Initia
$INIT
Initia (INIT) bounced from its lows today, surging 27.70% in a single day to $0.13079, but remains far below its interim peak of $0.2170 on November 10!
Here’s what happened with the security incident and the rebound:
1. Lingering security concerns: Following unauthorized transfers (about $600,000 in USDC was moved out), the mainnet and related Rollups were urgently paused. The plan for a full chain restart remains uncertain;
2. Nature of the rebound: Today’s move was purely a technical bounce from a lower support level—not the result of a new product launch.
Conclusion: This is a typical rebound from the lows after a security-related shutdown. $0.1200 was the key lower-bound lifeline in recent days. Until the mainnet restart is fully implemented, remain wary of further surprises. Trade quickly and avoid holding a large position for the long term!
#INIT #Initia
$INIT