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Home Crypto News Market Shiba Inu (SHIB) Is Leading Crypto Market Recovery With 20% Spike

Shiba Inu (SHIB) Is Leading Crypto Market Recovery With 20% Spike

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Shiba Inu has managed to pare recent losses, spiking over 20% within an hour to an intraday high of $0.00005084.

SHIB 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 has 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.

While the pullback is quite extreme, it was expected by market observers after Shiba Inu’s headline-grabbing gains in the second part of October.

Despite Shiba Inu’s bullish trend is on pause, it keeps being integrated by new exchanges, with Vienna-based Bitpanda opening a euro market for the meme coin earlier today.



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The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.


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