Shiba Inu Sees Nearly $17M Shorts Liquidated Over 24 Hours

Shiba Inu SHIB/USD saw one of its largest-ever liquidation days on record on Thursday.

What Happened: According to data from CoinGlass, $16.84 million SHIB short positions were liquidated on July 28.

Meanwhile, long SHIB positions saw $300,000 worth of liquidations, taking the total number of SHIB liquidations to $17.14.

The single largest liquidation order across all cryptocurrency exchanges also belongs to a Shiba Inu trading pair on Bitfinex. The liquidated SHIB perpetual contract was valued at $5.57 million.

SHIB was also the fourth-most liquidated crypto asset after Ethereum ETH/USDBitcoin BTC/USD and Ethereum Classic ETC/USD, a somewhat unusual scenario given its comparatively lower daily trading volume. 

ETH traders saw $243 million liquidated, while BTC traders and ETC traders recorded $77 million and $38 million in liquidations, respectively.

See Also: Recession? Analyst Says Bitcoin, Ethereum, Dogecoin Rally Looks Set To Continue Unabated

Price Action:  According to data from Benzinga Pro, SHIB was trading at $0.00001192, up 4.9% over 24 hours. The token traded between an intra-day low of $0.00001116 and an intra-day high of $0.00001215 on Thursday.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CryptocurrencyNewsShort IdeasMarketsTrading IdeasBitcoinEthereumEthereum classicShiba 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!