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Over 6 Billion SHIB in Long Positions Wiped Out 

Long-position traders, those who bet on SHIB’s price rising, were hit the hardest by this sudden drop. Data from CoinGlass shows that approximately $41,000 worth of SHIB long positions were liquidated in the past 12 hours.
Meanwhile, liquidations have risen to about $58,000 over the past 24 hours. Long positions accounted for the vast majority of Shiba Inu liquidations, totaling $49,560, or 85.44%, of the total wipeout. Short positions, by contrast, amounted to $8,440. 
At SHIB’s current price of $0.000007990, the long liquidations over the past day are equivalent to roughly 6,202,753,441 SHIB (6.2 billion), while the short liquidations translate to about 1.05 billion. 

More Shiba Inu Liquidations Possible

Despite Shiba Inu’s slight pullback earlier today, the asset still maintains a modest 24-hour gain of 0.97%. At its current price of $0.000007990, SHIB is up 5.39% from last week’s low of $0.000007581.
If it retests the $0.000007580 level, an estimated $754,630 worth of long positions would be liquidated, equivalent to roughly 99.55 billion at that price. Conversely, a potential upswing to $0.00000840 could trigger approximately $661,630 in short liquidations, representing around 78.76 billion SHIB at that price.