Broader crypto market saw $336 million in liquidations
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According to CoinGlass data, the market slide resulted in the liquidation of $336 million in crypto positions, with bullish bets accounting for the majority of this amount, totaling $247 million.rattled markets in recent days, signaling lower interest rate decreases next year. Equity markets took a hit, filtering through to crypto assets, and this spilled over into cryptocurrency assets.
With several markets, particularly those for cryptocurrencies, on edge, some of the steam has come out of assets that have enjoyed significant increases this year. At the time of writing, SHIB's price was down 7.29% in the last 24 hours to $0.000021, mirroring the ongoing sell-off in the market. This drop has brought the token closer to its critical support levels, which are crucial for maintaining its market stability.Global In/Out of Money indicator, the next key support level for Shiba Inu lies in $0.000019 and $0.00002, where 20.51 trillion SHIB tokens are currently held by 19,330 addresses.
In the last 24 hours, Shiba Inu has seen an 81% drop in large transaction volume, suggesting whales might be remaining on the sidelines awaiting clarity in markets before making significant moves.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
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