Wednesday, December 8, 2021
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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Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.


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