Shiba Inu Reverses Course To Fall 12% Amid $4.6M Worth Liquidations

Shiba Inu SHIB/USD fell 12% in the last 24 hours, after surging 20% on Tuesday, with Nansen reporting an overwhelming amount of trading on both decentralized and centralized exchanges.

What Happened: Data from Coinglass reveals that $4.60 million worth of SHIB has been liquidated in the last 24 hours, with total crypto liquidations standing at $246 million.

Dogecoin DOGE/USD also fell 7%, trading at $0.08094 in the last 24 hours.

See More: Best Crypto Day Trading Strategies

This comes after the market capitalization of SHIB rose by nearly $2 billion over the last 30 days, as the crypto community awaits its layer-2 scaling solution Shibarium.

The meme coin had a relative strength index of 81.51, which indicates SHIB has entered the overbought territory.

SHIB was the most-traded token among Ethereum Whales and also the biggest token in terms of dollar value, according to Whalestats, at the time of writing.

Price Action: At the time of writing, SHIB was trading at $0.00001108, according to Benzinga Pro.

Read Next: Bitcoin Falls Below $21K, Ethereum, Dogecoin Slide Amid Genesis Worries

 

 

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CryptocurrencyNewsMarketsMoversTrading IdeasdogecoinShiba Inu
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!