Approximately $50,000 worth of Shiba Inu short positions were liquidated in a 24-hour short squeeze, accounting for nearly 85% of SHIB’s total shorts. This development boosted trader morale as the token’s price rose, while open interest and spot trading volume also increased significantly. The move occurred amid a broader market where Bitcoin is being viewed as a safe-haven asset.
In a significant market shift, Shiba Inu short positions worth roughly $50,000 were liquidated through a dynamic squeeze. This event involved nearly 7.94 billion SHIB tokens and represented about 84.7% of the token’s total short positions in the last 24 hours.
Short positions speculate on a price decline, while long positions bet on an increase. The unexpected price rise for SHIB triggered the short squeeze, effectively removing those bearish traders from the immediate market.
Concurrently, Bitcoin’s price has surged to approximately $74,000. This upward momentum is partly attributed to investors treating BTC as a safe-haven asset amid ongoing geopolitical tensions.
Shiba Inu’s open interest has risen to $60.90 million, indicating fresh capital entering futures contracts. Spot trading volume for SHIB also spiked by 112% to reach $22.3 million.
Per CoinCodex SHIB stats, Shiba Inu may be able to score a new high of $0.00001014 by the year 2040. “Shiba Inu is forecasted to hit $ 0.0₅5725 by the end of 2026. A (-5.54% compared to current rates), $ 0.0₅3096 by 2030 (-48.92%), $ 0.00001018 by 2040 (+68.04%). And $ 0.00003244 by 2050 (+435.27%).”
