CandleFocus 685% Liquidations Imbalance Stuns Shiba Inu (SHIB) Amid $500 Million Crypto Bloodbath
2024-11-15
Author: Content Editor
Shiba Inu (SHIB) has been making headlines due to the imbalance of liquidations in the past 24 hours. CoinGlass data shows that the volume of liquidations for SHIB token futures amounted to $2.65 million, with liquidated long positions being almost seven times more at $2.31 million. This imbalance can be attributed to the price chart of SHIB, which experienced significant fluctuations. The price first dropped by 6.92% to $0.00002283, then rose to $0.00002432, and subsequently fell by over 3%. These price movements caused the gap between bearish and bullish liquidations and contributed to their high volume. The entire crypto market saw over $510 million in futures contract liquidations in the past 24 hours. Liquidations are both a consequence and a cause of rapid price movements, including for SHIB. It remains to be seen what the future holds for SHIB, but there is a possibility that the market will take a break and SHIB may continue to trade within its current range.
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