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Shiba Inu

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/shiba-inu-experiences-recent-price-increase/" data-wpel-link="internal">Shiba Inu Experiences Recent Price Increase</a> 
Shiba Inu witnessed a small price increase in the last few days. The leading <a href="https://en.coin-turk.com/anticipated-price-surge-for-dogecoin-and-pepe-meme-coins/" data-wpel-link="internal">memecoin</a>‘s value has risen by 13% since July 5. This increase in SHIB’s value led to the liquidation of many short positions in the futures market. Liquidation in a futures market occurs when the asset’s value moves against the position held by a group of <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>. 
<h2 class="p1" style="text-align: justify" id="what-is-happening-in-the-shiba-inu-market">What is Happening in the Shiba Inu Market?</h2> 
Investors holding short positions in the futures market are forced to buy back the asset at a higher price to cover their losses as the price increases. This usually happens when the asset’s price rises above a certain point, forcing investors with open positions against the price increase to exit the market. 
Since the price increase began on July 5, SHIB has recorded more short liquidations than long liquidations. In fact, on July 6, the total long liquidations of SHIB reached $3.36 million, with long liquidations facing a massive 491% increase. This represented the highest single-day short liquidation for SHIB since March 8. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-369167 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/shib-1.webp" alt="" width="1536" height="429"> 
However, despite the recent increase in SHIB’s value over the past few days, activity in the futures market remains low. This can be inferred from the declining open positions in futures. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-369166 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/shib-io.webp" alt="" width="1536" height="429"> 
An asset’s open interest in futures measures the total number of futures contracts that have not yet been closed or settled. When it decreases, more investors exit their positions without opening new ones. As of the time of writing, SHIB’s open interest in futures is $27.61 million, having dropped by 23% this month alone, and is currently at its lowest level since February. 
<h2 class="p1" style="text-align: justify" id="shib-chart-analysis">SHIB Chart Analysis</h2> 
According to the Aroon Up Line observed on SHIB’s daily chart, the current price increase may be short-lived. As of the time of writing, the indicator’s value was recorded at 0%. An asset’s Aroon Indicator measures its trend strength and identifies potential price reversal points. 
When the up line is near zero or at zero, the bullish trend is weak, and the last peak was reached a long time ago. If a correction occurs, SHIB’s value may drop to $0.00001570, but if it maintains the current uptrend, its price could rise towards $0.000017. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-369165 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/shib-grafik.webp" alt="" width="1536" height="789"> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/shiba-inu-experiences-recent-price-increase/" data-wpel-link="internal">Shiba Inu Experiences Recent Price Increase</a></h5>

Shiba Inu Experiences Recent Price Increase

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