Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Shiba Inu (SHIB) has managed to pare recent losses, spiking over 8% within an hour to an intraday high of $0.00004763.
The meme coin is currently leading the modest recovery of the cryptocurrency market along with Avalanche (AVAX).
According to Coinglass data, over $1 million worth of SHIB tokens have been liquidated over the past hour, with short positions accounting for more than 70% of the sum.
SHIB is down -44.96% from its Oct. 28 all-time high at press time. On Nov. 18, it came close to slipping below the $0.00004 level, hitting its lowest level since Oct. 26.
Bitcoin and Ether are down -16.67% and -13.91% from their respective peaks.
Dogecoin, the leading canine coin, is down -68.29% from its Elon Musk-driven price record reached in early May.
Despite Shiba Inu's bullish trend being on pause, it keeps being integrated by new exchanges, with Vienna-based Bitpanda opening a euro market for the meme coin earlier today.
Gamza Khanzadaev
