Shiba Inu Hit With 15,943.82% Liquidation Imbalance Amid Market Sell-Off

The digital asset market is mostly trading in red on Sunday, with most cryptocurrencies down in the last 24 hours, including Shiba Inu.

At the time of writing, Shiba Inu was down 1.27% in the last 24 hours to $0.000007742 and down 7.93% in the last seven days.

The drop follows continued profit taking in the market, aided by macro concerns, with $123 million in liquidations reported in the last 24 hours, according to CoinGlass data. Bullish liquidations accounted for the majority of this figure.

Along these lines, Shiba Inu is seeing a 15,943.82% liquidation imbalance, with longs bearing the brunt of the wipeout.

According to CoinGlass data, $28,560 were liquidated in SHIB positions in the last 24 hours. Long positions accounted for the majority of this figure, coming in at $28,380. Shorts were only liquidated for $178.25. The gap between long and short positions yields a 15,943.82% liquidation imbalance.

Shiba Inu price action

Shiba Inu is now trading sideways in a narrow range following its drop below the daily MA 50 at $0.000008.

Since Jan. 19, Shiba Inu’s price has traded in a range between $0.00000743 and $0.00000819. The RSI has flattened below 50, hinting the sideways trading might continue for a little while longer.

Meanwhile, SHIB continues to trade below the daily MA 50 as attempts to regain this level prove abortive.

In the coming sessions, it will be watched if Shiba Inu will convert the daily MA 50 into support to target $0.000007 and $0.00001, while support is expected in the $0.000007 range.

Keep fighting, Shiba Inu team member says

In a recent tweet, Shiba Inu team member Lucie urges the Shiba Inu community to remain strong and keep fighting.

In another tweet, a long read on X, Lucie shares a key lesson learned after spending years in the crypto sector: “Learning what to ignore is part of protecting your mental health. Taking random hate to heart usually adds stress without offering understanding or solutions.”

Lucie highlighted that a grounded approach helps, emphasizing the need for the Shiba Inu community to protect their minds. “Not every comment is worth internalizing, and not every attack deserves space in your mind,” Lucie added.