After a tumultuous period of liquidations, Shiba Inu bulls are finally seeing some stability in the market. Recent data indicates a significant shift, with no long liquidations reported in the last hour, suggesting a potential turning point for the meme coin. According to the official information, this trend could signal a renewed interest from investors.
Liquidation Figures Highlight Market Dynamics
According to CoinGlass, the latest figures show that shorts have taken the brunt of the liquidations, totaling 69,913, while long positions have remained intact. This is crucial for Shiba Inu, as it indicates that the recent price surge was not driven by overleveraged buyers who could be easily wiped out. The SHIB/USDT pair on Binance experienced a quick dip followed by a rebound, with prices recovering to around 0.000000715 after briefly touching 0.000000706.
Recent Liquidation Trends
In the last four hours, liquidations reached 9,350, with 8,560 from longs and 7,839 from shorts. Over a 12-hour period, this number escalated to 57,100, predominantly from long liquidations at 56,310. The total liquidations over the past 24 hours amounted to 104,620, with longs accounting for 103,730. This data suggests that the majority of the liquidation pain has already been absorbed, primarily affecting long positions.
Market Stabilization and Future Outlook
As the market stabilizes, it appears that leverage on long positions has been significantly reduced, or traders are opting for less borrowed capital amid the holiday season. This development minimizes the risk of forced long exits that could further depress SHIB's price. If Shiba Inu can maintain its position above 0.00000071, the next hurdle will be for buyers to push the price to 0.000000716 without triggering another wave of liquidations.
In a significant move, the Shiba Inu community recently burned over 46 million SHIB tokens, aiming to enhance the token's value. This initiative contrasts with the current market stabilization observed in the Shiba Inu ecosystem. For more details, see more.
