Shiba

when

Shiba Inu

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/shiba-inu-rises-by-13" data-wpel-link="internal">Shiba Inu Rises by 13%</a><br></p>
<p style="text-align: justify">Shiba Inu has witnessed a notable price increase over the past few days. Since July 5, the popular <a href="https://en.bitcoinhaber.net/pepe-coin-experiences-significant-gains-with-march-price-predictions" data-wpel-link="internal">memecoin</a> has seen its value rise by 13%, resulting in the liquidation of many short positions in the futures market. This liquidation occurs when the asset’s price movement negatively impacts the held positions of a group of <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">investors</a>.</p> 
<h2 id="what-is-happening-in-the-shiba-inu-market">What is Happening in the Shiba Inu Market?</h2> 
<p style="text-align: justify">Investors holding short positions in the futures market are compelled to buy back the asset at a higher price to mitigate their losses as the price escalates. This scenario unfolds when the asset’s price surpasses a certain threshold, forcing investors with adverse positions to exit the market.</p> 
<p style="text-align: justify">Since the price surge commenced on July 5, SHIB has documented more short liquidations than long liquidations. On July 6, SHIB’s total long liquidations reached $3.36 million, marking a significant 491% increase. This was the highest single-day short liquidation for SHIB since March 8.</p> 
<h2 id="why-is-futures-market-activity-low">Why is Futures Market Activity Low?</h2> 
<p style="text-align: justify">Despite the recent increase in SHIB’s value, activity in the futures market remains subdued, indicated by the decreasing open positions in futures contracts. Open interest in futures gauges the total number of unsettled futures contracts. A decline signifies that investors are closing their positions without initiating new ones. Currently, SHIB’s open interest in futures stands at $27.61 million, having dropped by 23% this month, reaching its lowest level since February.</p> 
<h2 id="key-insights-for-investors">Key Insights for Investors</h2> 
<p style="text-align: justify">Investors should consider the following points:</p> 
<ul> 
 <li>Recent price increases are causing significant short position liquidations.</li> 
 <li>Despite price gains, the futures market is experiencing lower activity.</li> 
 <li>Open interest in SHIB futures has decreased by 23% this month.</li> 
 <li>The Aroon Indicator suggests the current bullish trend might be weak.</li> 
</ul> 
<p style="text-align: justify">According to the Aroon Up Line on SHIB’s daily chart, the ongoing price rise might be fleeting. The indicator was recorded at 0%, suggesting weak bullish trends and the last peak occurring long ago. If a correction ensues, SHIB’s value could drop to $0.00001570. Conversely, maintaining the current uptrend could push its price towards $0.000017.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/shiba-inu-rises-by-13" data-wpel-link="internal">Shiba Inu Rises by 13%</a></h5>

Shiba Inu Rises by 13%

Table of Contents

BH NEWS

Outros artigos publicados em 9 de jul. de 2024

Telegram’s Notcoin (NOT) Price Rebounds 68%, Targets $0.0211 Amid Recovery Phase

Fuk MT Gox Memecoin Skyrockets 190% and Will Rally Another 17,000% Before KuCoin Listing

Cryptocurrency Market Could See $6 Trillion Boom Over 20 Years: Matthew Sigel (VanEck)

BlackRock tokenized treasury fund BUIDL reaches $500M

Paxful Co-founder Pleads Guilty To AML Violations, Faces Jail Term

Players Profit in Mines of Dalarnia

Join our free newsletter for daily crypto updates!