📉🔔 Shiba Inu Faces Significant Liquidation Amidst Crypto Market Turmoil: Insights & Analysis 💥💼

As the cryptocurrency market undergoes a rigorous stress test, Shiba Inu (SHIB) finds itself grappling with significant liquidation, spotlighting the intense volatility within the ecosystem. Here's a closer look at the recent developments:

💸 Liquidation Landscape: Shiba Inu bears the brunt of the market turmoil, witnessing a staggering $3.63 million liquidation over the past 24 hours, translating to a whopping 14.8 trillion SHIB being liquidated. Long traders, in particular, face substantial losses, totaling $3.45 million, while short traders also feel the impact with $186,400 wiped from circulation.

📉 Price Plunge: The price of Shiba Inu plunges to $0.00002425, marking a significant 12.17% decrease in the past 24 hours and over 11% decline for the week. This downturn deals a notable setback to the token's recovery trajectory, highlighting the volatile nature of the crypto landscape.

📈 Positive Metrics Amidst Turbulence: Despite the bearish sentiment, certain key metrics for Shiba Inu paint a mixed picture. Large transactions exceeding $100,000 surge by 276.29% within 24 hours, totaling $212.56 million. Concurrently, the transaction count on the SHIB network registers a 5.62% uptick to 5,750, reflecting increased network activity. Trading volume also witnesses a bullish surge, climbing by $167.03 million in 24 hours, signaling heightened trader interest.

🔄 Conflicting Growth Trends: While Shiba Inu manages to hold its ground at the $0.000023 support level, concerns linger as conflicting growth trends emerge. Despite resilience at this price mark, overcoming potential obstacles remains a daunting task, with market sentiment oscillating between optimism and caution.

As Shiba Inu navigates the volatile waters of the crypto market, investors remain vigilant, closely monitoring key metrics for signs of recovery and stability amidst the ongoing turbulence. 💪📊 #ShibaInu #CryptoVolatility #SHIB #Memecoins 🚀📉$SHIB $WIF