Shiba Inu’s price has hit a critical juncture at $0.000015, with nearly 3 million SHIB long positions vulnerable to liquidation if the price falls below key support levels. As the broader crypto market shows signs of strain, traders are growing increasingly cautious, with the fate of SHIB’s price hanging in the balance.
Shiba Inu Faces Testing Times as Support Falters
After a strong 17% weekly rally, Shiba Inu’s price has struggled to maintain momentum, consolidating just below the $0.000015 level. As of April 26, SHIB was trading at $0.00001419, showing a modest 0.6% gain over the past 24 hours, according to CoinGecko data. However, the inability to sustain price levels above $0.000015 has raised concerns, especially during U.S. trading hours, where liquidity has thinned and retail activity has dropped off.
Earlier, Shiba Inu saw sharp rejections near the $0.000015 zone on platforms like Binance and Coinbase, indicating that bullish sentiment among short-term traders may be waning. After an initial rally in the Asian markets, SHIB entered a phase of lower highs, signaling a possible exhaustion of buyer enthusiasm.
Over 3 Million SHIB Longs on the Verge of Liquidation
A deeper concern for Shiba Inu traders is the risk of liquidation. According to Coinglass’ Liquidation Map, approximately 2.96 million SHIB long positions could face liquidation if the price drops below $0.00001365. Binance alone is responsible for over 766,000 SHIB of this exposure, making it the largest source of potential selling pressure.
This price level has become a major liquidity zone, and if SHIB’s price tests it, a wave of forced liquidations could follow. Historically, similar price drops, such as in late March when SHIB fell below $0.000012, resulted in rapid declines of 5%–8% within hours as a cascade of liquidations intensified the downward momentum.
Market Dynamics and Liquidation Risks
The long-to-short ratio for SHIB on Binance Futures recently surged to 2.7:1, reflecting an imbalance in the market. While this ratio has since cooled, a high concentration of long positions beneath the current price suggests that if SHIB falls below $0.00001400, a liquidation cascade toward $0.00001365 could be triggered, leading to even further downward pressure.
This risk is particularly concerning for traders who may have overexposed themselves to leveraged long positions. A significant drop in SHIB’s price could mirror the liquidation events seen with other altcoins, such as PEPE and FLOKI, earlier this month, exacerbating the market downturn.
What’s Next for Shiba Inu?
Shiba Inu’s price is teetering at a critical juncture. If it fails to maintain support above $0.00001420 and breaks below $0.00001400, the cascading liquidations could set off a more aggressive sell-off, with the next major support levels potentially as low as $0.00001365.
However, if SHIB manages to regain momentum and reclaim the $0.00001450 level, it could avert a deeper correction and potentially stabilize the market. Traders are closely watching for clear directional signals, as liquidity remains low and market sentiment fragile.
In conclusion, Shiba Inu’s price action is at a pivotal point, and the risk of liquidation looms large. As the market braces for potential volatility, all eyes are on whether the $0.000015 support level holds firm or gives way to a broader downturn.
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