6.2 Billion Shiba Inu Positions Liquidated Amid 859% Spike in Burn Rate

6.2 billion SHIB positions liquidated due to sudden price drop.

SHIB briefly rebounded but broader crypto downturn erased gains quickly.

Shiba Inu burn rate surged 859%, removing 12.91 million tokens.

Shiba Inu recently found brief relief after four straight days of losses, sparking optimism among traders. The meme coin climbed 4% to reach $0.0000080 before momentum faded. SHIB briefly hit $0.000008133, but the broader crypto market turned bearish again, erasing gains. Traders closely watched the price action as liquidations surged. Long positions bore the brunt of the downturn, highlighting the risks of leveraged bets in volatile markets.

Massive Long Liquidations Hit Shiba Inu

Traders betting on rising SHIB prices suffered heavy losses. CoinGlass data shows roughly $41,000 in long positions liquidated in the past 12 hours. Over 24 hours, liquidations climbed to about $58,000. Long positions represented the bulk of these wipeouts, totaling $49,560, or 85.44% of all liquidations. Short positions, by contrast, accounted for only $8,440. At the current price of $0.000007990, the long liquidations equal about 6.2 billion SHIB. Shorts total roughly 1.05 billion SHIB.

These numbers show how sudden price swings can trigger massive sell-offs among highly leveraged traders. Shiba Inu’s slight pullback still left the token up 0.97% over 24 hours. From last week’s low of $0.000007581, SHIB gained 5.39%. If the price retests $0.000007580, roughly $754,630 worth of long positions could face liquidation, translating to nearly 99.55 billion SHIB. Conversely, an upswing to $0.00000840 may trigger about $661,630 in short liquidations, or around 78.76 billion SHIB.

Burn Rate Surges as Traders React

Shiba Inu’s burn rate jumped 859% in the past 24 hours as of writing, attracting attention despite a modest total burned. Only 12.91 million SHIB were removed from circulation during this period. CEX.io recorded the largest single burn, with 9.5 million SHIB sent to the official burn address. Other notable burns included 1.78 million, 1.52 million, and 1.27 million tokens. The burn trend reflects growing efforts to reduce supply and increase scarcity.

So far, roughly 410.753 trillion SHIB have been burned, leaving around 589.24 trillion in circulation. The spike shows strong community participation and strategic moves from exchanges. Liquidations and burn activity show SHIB’s market reacts sharply to even small price swings. Both long and short traders face risks, and strategic entry points can influence outcomes.

Investors may watch closely for further burn events or price action to determine the next opportunity. Shiba Inu’s recent movements highlight the challenges of leveraged trading. Long positions dominated the recent wipeouts, and the burn rate spike adds another layer of market dynamics. While SHIB gained temporarily, the broader market’s influence kept volatility high.