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SHIB Recognizes Unexpected Sell-Off Phenomenon Amid Market Rally
Shiba Inu (SHIB) has recently shown signs of turmoil in the market as it recorded movements of liquidation that do not follow the general trend. According to recent data, long positions have been completely wiped out at the price of 0 USD, while the sell side accumulated a total liquidation of 699.13 USD, creating a complex market picture.
Looking at the most recent 24-hour timeframe, the total SHIB liquidations reached 104,620 USD, with most of the selling pressure coming from liquidated long positions. This indicates that investors are either accepting losses or being forced to close their positions amid market volatility.
An important upcoming challenge for the SHIB price is whether the token can hold the 0.0000071 USD level and continue to rise to the 0.00000716 USD threshold without triggering another wave of large liquidations. This is a critical point to determine whether Shiba Inu can sustain its upward momentum or will fall into a deeper correction in upcoming trades.