2,457,894,736 Shiba Inu Liquidated as SHIB Price Drops Over 12%

Shiba Inu traders suffered major leveraged liquidations after $SHIB experienced sharp volatility and double-digit losses over the past few days.

More than 2 billion Shiba Inu tied to leveraged positions were erased within 24 hours as the broader crypto market continued facing intense selling pressure. Notably, bullish traders absorbed most of the losses, with long positions accounting for the overwhelming majority of liquidations.

Key Points

• More than 2.45 billion Shiba Inu tied to leveraged positions were liquidated within 24 hours.
• Long liquidations accounted for roughly $10,980, equivalent to approximately 1.92 billion $SHIB.
• Short liquidations totaled about $3,030, representing approximately 531.57 million $SHIB.
• Investors withdrew approximately 527.98 billion $SHIB while depositing around 330.35 billion tokens.

Shiba Inu Dips Over 12% in One Week

The broader cryptocurrency market has remained highly volatile since the weekend, triggering steep declines across several digital assets, including Shiba Inu.

For context, $SHIB traded around $0.0000065 on May 14 before plunging below the $0.000006 level and dropping to $0.0000057. Although the token posted a modest 24-hour rebound of about 1.53%, it still has a weekly decline of 12.63%.

Over 2B Shiba Inu Tokens Liquidated

Consequently, the downturn triggered widespread liquidations among leveraged traders. According to CoinGlass data, traders lost approximately $14,010 on $SHIB positions over the past 24 hours. At the current price of $0.0000057, the liquidated positions represented 2,457,894,736 (2.45 billion) $SHIB tokens.

Bullish traders suffered the heaviest losses during the sell-off. CoinGlass data showed that long positions accounted for roughly $10,980 of total liquidations, equivalent to 1,926,315,789 (1.92 billion) $SHIB. In contrast, short liquidations totaled about $3,030, representing 531,578,947 (531.57 million) $SHIB at current prices.

The imbalance suggests that many traders expected $SHIB to recover or stabilize following earlier declines. However, continued market weakness pushed prices lower, automatically closing many leveraged long positions.

197B $SHIB Withdrawn from Exchanges

Meanwhile, the extreme volatility seen over the weekend has started to ease as investors withdraw more $SHIB from exchanges. According to CryptoQuant data, exchange withdrawals significantly exceeded deposits over the past day.

Specifically, investors deposited approximately 330.35 billion $SHIB into exchanges while withdrawing around 527.98 billion tokens. As a result, the market recorded a net outflow of roughly 197.44 billion $SHIB tokens, signaling reduced selling pressure and potential accumulation activity among holders.