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Shiba Inu’s bark is losing its bite. A chilling breeze swept through the SHIB army, erasing recent gains and triggering a massive liquidation event. Over 6.2 billion SHIB tokens, entangled in leveraged long positions, vanished in a market bloodbath.
Shiba Inu clawed its way back from the brink yesterday, snapping a four-day losing streak that had stretched from November 19th to 22nd. The meme coin staged a modest 4% rally, briefly touching $0.0000080 and offering investors a glimmer of hope amidst the recent downturn.
Shiba Inu flashed green today, briefly piercing $0.000008133 like a hopeful spark. But the rally proved a mirage. As a chilling wind swept across the crypto landscape, snuffing out bullish sentiment, SHIB retreated, its fleeting gains dissolving back below the $0.000008 mark.
Over 6 Billion SHIB in Long Positions Wiped Out
SHIB longs got rekt. A flash crash in the last 12 hours vaporized roughly $41,000 in leveraged long positions, CoinGlass data reveals. Bulls betting on a SHIB surge just learned a harsh lesson.
Shiba Inu longs got rekt. Over the last day, $58,000 vanished in liquidations, with longs taking the brunt of the damage. A staggering $49,560 – a whopping 85% – was wiped out from bullish bets on the meme coin. Shorts, meanwhile, only felt a minor sting, losing a comparatively paltry $8,440.
Shiba Inu liquidation
Shiba Inu’s price teetered around $0.000007990, triggering a tidal wave of liquidations. Imagine over 6.2 BILLION SHIB tokens vanishing as long positions were wiped out, dwarfing the 1.05 billion liquidated from short positions. The market felt the burn.
More Shiba Inu Liquidations Possible
Shiba Inu dipped its paw into the red earlier, but don’t let that fool you. This pup still managed to claw its way to a 0.97% gain in the last day. Trading at $0.000007990, SHIB’s wagging its tail a happy 5.39% higher than last week’s low of $0.000007581.
SHIB’s price teeters on a razor’s edge. A dip to $0.000007580 could trigger a bloodbath, wiping out $754,630 in long positions – that’s a staggering 99.55 billion SHIB vaporizing. But bulls, take heart! A surge to $0.00000840 might ignite a short squeeze, forcing the liquidation of $661,630 in shorts, or about 78.76 billion SHIB, potentially fueling a rapid ascent. Which way will the Shiba Inu bite?
Shiba Inu Exchange Heatmap
Daily Burn Rate Soars 859%
Shiba Inu’s burn rate just went supernova! Burning over 859% hotter than yesterday, flames devoured SHIB tokens at a furious pace. While the inferno consumed nearly 13 million coins, the question remains: Is this enough to ignite a real price rally, or just a flicker in the meme coin landscape?
Shiba Inu daily burn
Shiba Inu’s burn rate blazed higher, fueled by a massive 9.5 million SHIB inferno ignited by a single CEX.io user who sent the tokens straight to the burn address. But the fire didn’t stop there! Three more significant conflagrations of 1.78 million, 1.52 million, and 1.27 million SHIB respectively, added fuel to the flames, driving the day’s total burn sky-high.
To date, approximately 410.753 trillion SHIB have been burned, leaving the total supply at around 589.24 trillion tokens.
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