After days of relentless liquidations, Shiba Inu bulls finally got a figure they could live with: according to CoinGlass's liquidation data for SHIB, there have been no long liquidations over the last hour, while shorts took the entire hit at $699.13. For a meme coin that punishes late entries, this matters.
It means that the latest price increase was not funded by overleveraged buyers who were wiped out on the next candle. The bulls stayed in and the market stopped taking their money.
On the SHIB/USDT Binance chart, there was a fast dip and rebound, with the price snapping back toward $0.00000715 after reaching the $0.00000706 area. The five-minute chart then flipped from red to green with a series of higher closes, and the latest reading was near $0.00000715, up 0.14% on the candle.
Nonetheless, over the last four hours, liquidations totaled $9,350, with $8,560 on longs and $783.89 on shorts. Over the last 12 hours, this figure grew to $57,100, with long liquidations dominating at $56,310. Over the full 24 hours, total liquidations amounted to $104,620, with longs accounting for $103,730 and shorts just $895.54.
In other words, most of the pain has already occurred, and it was mostly on the buy side.
Why "$0" hour stands out for SHIB
This suggests that leverage on longs has already been eliminated, or that traders are simply using less borrowed capital as participation decreases during the holiday session.
Either way, it removes one of the easiest ways for SHIB to lose ground: forced long exits feeding the drop. If the price of the Shiba Inu coin can hold above $0.0000071, the next challenge will be to see if buyers can reach $0.00000716 without triggering liquidations again.
