- Shiba Inu saw a 15,943.82% liquidation imbalance as $28,380 in long positions were wiped out during the market decline.
- SHIB remains range-bound below its 50-day moving average after failing to recover lost ground from the recent downturn.
- Total crypto liquidations hit $123 million in 24 hours, with long positions accounting for the bulk of trader losses.
Shiba Inu has experienced a severe 15,943.82% liquidation imbalance in the past 24 hours, triggered by a broader crypto market downturn. Data from CoinGlass revealed that long positions in SHIB were heavily liquidated, totaling $28,380. In contrast, short liquidations amounted to just $178.25, reflecting a sharp imbalance as traders rapidly exited bullish bets.
The broader digital asset market remained under pressure, with most major cryptocurrencies showing losses. Shiba Inu dropped 1.27% in the past 24 hours and recorded a weekly decline of 7.93%. At press time, SHIB was trading at $0.000007742, having slipped below its 50-day moving average of $0.000008 earlier in the week.
SHIB price movement narrows
Since January 19, Shiba Inu has traded within a tight range between $0.00000743 and $0.00000819. The Relative Strength Index (RSI) has flattened below the neutral 50 mark, signaling continued indecision in market momentum. The token’s attempts to reclaim the 50-day MA have so far been unsuccessful, contributing to sustained sideways price action.
Overall crypto liquidations reached $123 million over the last day, according to CoinGlass. Most of this came from long positions, indicating that many traders were caught off guard by the latest downturn. The sell-off is being attributed to profit-taking and heightened macroeconomic uncertainty, with investors choosing to lock in gains.
Community encouragement from Shiba Inu team
In response to the market stress, a Shiba Inu team member known as Lucie posted a message encouraging the community to stay focused. Lucie emphasized the importance of mental resilience in the face of criticism and market pressure, stating that not every comment deserves attention or emotional investment.
