India’s stock market Sensex has plummeted a staggering 1,137 points on Tuesday while Nifty dipped nearly 350 points. The markets have been bleeding for three months with only a few price spurts that aimed at course correction. Leading shares like IRFC and Jio Financial Services have experienced massive price declines, wiping away millions worth of investors’ money. Traders who took an entry position during the Q4 of last year are all facing immense losses this month.

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Will IRFC & Jio Financial Shares Dip Further?

IRFC and Jio Financial shares remain on a slippery slope as the market conditions do not favor a bull run. Anshul Jain, Head of Research at Lakshmishree, wrote that all technical indicators point towards a bearish divergence for IRFC shares. The analyst predicted that IRFC could fall below the Rs 100 level and bottom out between the 90 to 92 range. Jain called it a great buying opportunity if IRFC falls to the new lows.

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“Given the prevailing technical indicators, the stock (IRFC shares) is expected to decline further, with potential downside targets of ₹109 and ₹92 in the next two to three months. Investors are advised to act cautiously and review their positions, as the market appears unfavorable for IRFC in the near term,” he said to Benzinga.

While the price prediction indicates that IRFC could decline in price, another analyst forecasts that Jio Financial shares could rise. Financial analysts from leading brokerage firm Anand Rathi have given Jio Financial shares a ‘buy call.’ The analysts wrote that accumulating the stock at Rs 230 to 240 level could be beneficial. The brokerage firm has predicted that Jio Financial shares could surge 25% and reach a high of Rs 305 next.

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“Jio Financial Services shares are showing signs of bottoming near a strong previous support level. Additionally, a bullish RSI divergence is visible on the chart, indicating a potential reversal. Considering these technical factors, we recommend going long in the ₹230 – 240 zone. The upside target is set at Rs 305, while the stop-loss should be placed at Rs 199 on a daily closing basis,” leading brokerage firm Anand Rathi said to Mint.

The BNB Chain-based meme token platform Four.Meme has suspended trading after suffering a malicious attack. The project announced the incident on Feb. 11, stating that the team had taken immediate action to contain the threat and protect user funds.

According to blockchain security firm PeckShield, the attack led to the loss of approximately $183,000 worth of digital assets. The project did not disclose specific details about the nature of the exploit or potential vulnerabilities in its code.

Four.Meme exploit sees LP token trading suspended

In the platform’s announcement post, Four.Meme assured users that internal funds remained safe and unaffected (SAFU).

“To ensure security, token LP launched on PancakeSwap is temporarily suspended, and will be reopened once our development team completes the fix, on-chain trading is operating normally,” the meme coin launchpad stated.

According to one user on X, the exploit started at around 2:00 AM GMT, when they tried to buy BNC through Four.Meme, but there was not enough liquidity for the launchpad to complete the transaction.

Just tried to buy my first token $BNC on @four_meme_. The second the bonding curve filled it migrated to @PancakeSwap and instantly liquidity was removed. I thought hard scams weren't possible?

Isnt https://t.co/cKERRpmS2Z supposed to be safe?https://t.co/4whJ3gTeXi pic.twitter.com/mCoIPYWgcC

— Minty (@MintysMooners) February 11, 2025

Other users bashed the platform for “reposting” the same message four times announcing the network breach, to prevent users from knowing the incident happened hours ago, while community members tried to warn them.

Ex-Binance CEO Changpeng Zhao was concerned about unexpected traction of the TST token after it appeared in a tutorial video tied to Four.Meme.

Zhao acknowledged that TST’s censorship-resistant nature meant that trading would likely continue, regardless of Binance’s stance.

Addressing broader concerns about token listings, Zhao distanced himself from direct involvement in Binance’s listing decisions.  

TST got listed on Binance. A few thoughts:

1. CZ said “fundamentals”, then talks about a test coin turned meme coin.

I posted to clarify that TST was NOT endorsed by me/us. It was just a test token used in a video tutorial. But every clarification post just made it more viral…

— CZ 🔶 BNB (@cz_binance) February 9, 2025

“I think the Binance listing process is a bit broken. They announce, then list 4 hours later. The notice period is necessary [however] in those 4 hours, the token prices go high on DEXes, [then] people sell on CEX…Not sure if there is a solution for this though. Just beware,” he reckoned.

Zhao suggested that CEXs should move toward automated listing processes. He argued that automating listings could improve efficiency and transparency. CZ also said that his departure from Binance meant he was no longer in a position to implement such changes.

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