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Bitcoin’s recent rise has provided a welcome boost to several altcoins, including Shiba Inu. If the moon still remains out of reach for this memecoin, its recent swings reveal interesting potential. However, the past 24 hours have been marked by massive liquidations that have exposed a spectacular imbalance at the heart of a red-hot crypto market.
Record liquidation imbalance for Shiba Inu
Latest news Shiba Inu: crypto meme has been in the news for the last 24 hours. According to CoinGlass, SHIB futures liquidations reached $2.65 millionwith the vast majority of $2.31 million in long positions liquidated. This gap indicates the extreme volatility of this memecoin.
Reasons? A real rollercoaster at prices:
- Initial down 6.92% to $0.00002283;
- increase to $0.00002432;
- Another 3% decline.
These unpredictable movements associated with crypto market in general under tensionresulted in a bloodbath of $510 million in liquidation across all altcoins in just 24 hours.
SHIB and the global chaos of crypto liquidations
The Shiba Inu is not the only one that has gone up in price. The entire crypto market was shaken massive liquidation, with characters flirting with billions over several consecutive days. But SHIB, as a popular memecoin, remains an iconic figure in this madness.
This episode highlights risks associated with futures contractswhere investors are playing with dangerous leverage in an already uncertain environment. SHIB’s extreme volatility may attract intrepid traders, but it also serves as a reminder that:
- Caution is a valuable weapon.
- Crypto markets remain unpredictable.
- Even popular altcoins can lose ground in an instant.
Could this chaos herald a stabilization or the beginning of a new hellish spiral? Only time will tell, but one thing is for sure: SHIB loves roller coasters.
In short, Shiba Inu’s latest price variations reveal a complex reality: there are unpredictable dynamics at play behind this memecoin craze. It remains to be seen whether these upheavals represent a step towards sustained flight or a simple start before another descent.
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The blockchain and crypto revolution is in full swing! And on the day the effects are felt by the most vulnerable economy in this world, I will say against all hope that I had something to do with it
DISCLAIMER OF LIABILITY
The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.
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