14.8 Trillion Shiba Inu Tokens Liquidated In Just 24 Hours Amid Market Downturn
Portfolio Pulse from Bibhu Pattnaik
Shiba Inu (SHIB) experienced a significant liquidation event with $3.63 million worth of SHIB, or approximately 14.8 trillion tokens, being liquidated amid a market downturn. Despite a 12.17% price drop in the last day, large transactions surged by 276.29%, and trading volume increased to $1,199,915,774. Over 12,000 addresses hold at least 1 billion SHIB, with 73% of investors holding for over a year, indicating strong investor confidence and potential for recovery.
April 13, 2024 | 4:31 pm
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NEUTRAL IMPACT
Shiba Inu (SHIB) faced a significant liquidation but showed resilience with increased large transactions and trading volume, indicating potential for recovery despite the market downturn.
The liquidation event and price drop are negative short-term indicators, but the surge in large transactions and trading volume, along with strong investor confidence, suggest a balanced outlook for SHIB in the short term. The mixed signals from the market downturn and internal metrics of activity and confidence lead to a neutral score.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100