11,479,230,769 SHIB Long Liquidation Rocks Market Amid Price U-Turn

Shiba Inu saw four straight days of gains since Sept. 6, reaching a high of $0.00001320 at one point in the bullish surge.

However, traders took profit as Shiba Inu confirmed short-term resistance above the daily SMA 200 at $0.000013, in particular $0.00001320, given its second retest of this level in the last three days.

Shiba Inu subsequently fell from a high of $0.0000132 in Thursday’s session to a low of $0.00001293.

The move caught bullish traders who were betting on further price increases unawares, resulting in significant long liquidations.

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According to CoinGlass data, a total of $154,200 SHIB positions were liquidated in the last 24 hours, the majority of which were longs, while shorts came in at just $4,970.

A total of 11,479,230,769 SHIB, or $149,230 in monetary terms, were liquidated in long positions in the last 24 hours, according to CoinGlass data.

Shiba Inu news

Shiba Inu layer 2 Shibarium has hit a new block milestone, surpassing 13 million blocks.

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According to recent Shibarium scan data, total blocks now stand at 13,017,085, and total addresses are now at 272,282,541; the total transaction count on Shibarium is now at 1,568,161,370.

Earlier in the week, Shiba Inu developer Kaal Dhairya provided an update on the upcoming Leash v2, an ERC-20 token implemented with OpenZeppelin libraries as ERC20 and ERC20Permit (EIP-2612) and ERC20Burnable.

A full independent audit of the integrated Leash v2 system has been completed, with the launch expected soon and further information to be published by the team.