#SHIBA🚀 #Shibalnu #BinanceShiba

Shiba Inu’s $SHIB recent bullish rally came to an abrupt halt as traders faced heavy liquidations. The cryptocurrency saw a four-day surge starting from September 6, which brought its price to a peak of $0.00001320. However, this bullish momentum couldn’t hold as Shiba Inu reached a key resistance level, particularly above the daily SMA 200 at $0.000013. The resistance of $0.00001320 was tested twice in only three days, and the price was unable to gain momentum and began to fall back.

This reversal caused heavy losses to many traders who were anticipating further price increments. Thursday saw Shiba Inu drop to as low as $0.00001293 after beginning the day at $0.00001320, to the dismay of bullish traders. The surge in collapse led to the liquidation wave, which washed out large stakes in a few hours.

The coinglass trading data indicates that long positions totaling 154,200 were liquidated in a mere 24 hours, and a large percentage of them were long liquidations. On the contrary, short positions were as modest as $4,970. An unbelievable 11.47 billion SHIB tokens were cashed in, and each was valued at approximately $149,230.