Shiba Inu Price Action: $SHIB Seeks Breakout Amid Rising Shibarium Activity

Shiba Inu ($SHIB) has been on a wild ride since its launch in August 2020, touted as the 'Dogecoin killer'. Despite being down 3.3% over the past day, the token still has a massive community behind it and is trading at $0.00000451.

The circulating supply of 589.24 trillion tokens is a key factor in its valuation, which currently stands near $2.652B with a fully diluted valuation of $4.5B.

Liquidation data shows that leverage traders were squeezed hard, with total liquidations hitting $462.56K over 24 hours, and longs absorbing almost all of it at $434.00K against just $28.57K in shorts.