Shiba Inu records renewed trading activity amid a broader crypto market rally and heavy short liquidations. The token has risen over the past 24 hours, supported by stronger participation across spot and derivatives markets.
Price action shows mild gains but remains inside a tight consolidation range. Market sentiment improves as risk assets strengthen. However, momentum stays limited near key resistance levels, keeping the short-term trend unclear.
Spot and Derivatives Activity Strengthens
Shiba Inu trades near $0.000005921, up 2.49% in the last 24 hours. Spot trading volume increases 50% to $127.25 million, according to market data. This marks a recovery after a weak week of activity.
Derivatives activity also expands sharply. Volume rises 102.48% to $161.13 million. Open interest increases 3.12% to $62 million, showing fresh capital entering leveraged positions. Traders appear to be positioning for a breakout move.
However, price action remains constrained below $0.000006. That level continues to act as strong resistance. SHIB holds above the 50-day moving average at $0.00000584, which provides short-term support. The asset trades between $0.00000562 and $0.00000644 since mid-March.
Market Liquidations and Short Squeeze Pressure
Broader crypto markets see a sharp liquidation wave during the same period. Total liquidations reach about $545 million, according to Coinglass data, with nearly $445 million driven by short positions. The move comes after a strong rally across major cryptocurrencies as risk sentiment improves across the market.
A total of 171,184 traders are liquidated. Bitcoin accounts for $236 million in losses, while Ethereum records $136 million.
The largest single liquidation is a $12.40 million BTC-USDT short on Aster. The squeeze highlights aggressive positioning against the upward move. Shiba Inu follows the broader market trend but remains range-bound. Capital continues rotating into selected altcoins, though sentiment stays mixed.
Source: https://coinpaper.com/16231/shiba-inu-price-prediction-shib-surges-2-as-445-m-shorts-get-liquidated
