Shiba Inu Price Drops 14% as Heavy Long Liquidations Hit

Shiba Inu's recent rally has come to an abrupt end, with the token experiencing a 4.09% drop over the past 24 hours.

This decline has led to heavy long liquidations, with $252,960 in SHIB leveraged positions being closed out, representing approximately 48.34 billion tokens.

The price of SHIB has fallen to $0.000005298, down 14.42% from its recent high of $0.000006191, which it reached over the weekend.

This drop has also put renewed pressure on SHIB's ranking, with the token currently standing at 27th place in the global cryptocurrency rankings.