Shiba Inu Price Soars on Record Short-Liquidation Squeeze
Shiba Inu's price is on the rise after a record short-liquidation squeeze. The token surged over 12% in one day, briefly touching $0.00000502, as roughly $3.38 billion in total crypto liquidations swept the market across 192,002 traders.
The short squeeze dynamic pushed sentiment across the altcoin complex higher, with SHIB's move looking more like beta to a market-wide unwind than a token-specific catalyst. This matters for how sustainable the rally actually is.
SHIB is trading around $0.00000515, up 2.85% in the past 24 hours and roughly 11.8% over seven days. The token broke a descending channel on the 4-hour chart this week and is now retesting the $0.0000048 zone.
Traders are treating this level as the line between continuation and failed breakout, with three scenarios emerging: a hold above $0.00000500 opens a path toward $0.00000550 near-term and a stretch target near $0.00000583; SHIB chops between $0.0000046 and $0.0000050 while the broader market digests the liquidation aftermath; or a break below $0.00000446 support exposes $0.00000410.