SHIB Positions Worth Nearly $20 Million Liquidated in 24 Hours
Key Facts
SHIB-related derivatives positions worth nearly $20 million were liquidated over 24 hours, according to a report published by Coinotag. The report said long positions accounted for the largest share of liquidations, at about $12.9 million, compared with about $7 million for short positions. The figures show the volume of forced position closures in the derivatives market over the same period. The report does not establish that Shiba Inu’s development team issued an official warning, contrary to what appeared in the first version of the story. Nor does it attribute the liquidations to specific price volatility or establish that they directly affected token holders.
Long liquidations exceeded short liquidations during the 24-hour window covered by the report. Long liquidations totaled about $12.9 million, while short liquidations reached about $7 million. This comparison describes the distribution of positions forcibly closed; by itself, it does not mean the price moved in a particular direction or that the liquidations caused market movements. The available report did not provide evidence linking these figures to downward pressure on SHIB’s price. It also did not report an official warning from the project team about a wave of liquidations.
As a measure of activity around the token, SHIB futures trading volume reached $49.3 million over 24 hours, compared with spot trading volume of $10.8 million, according to Coinotag. The gap shows that futures trading was greater than spot trading during the period cited in the report. The two figures measure trading activity in different markets: futures and spot. Futures volume alone does not establish that leveraged trading caused the liquidations or that traders were taking a uniform position. The report also said the long-to-short ratio was 2.71 at the time of publication, a measure separate from trading volume and liquidations.
The report put open interest in SHIB futures at about $37.3 million, below the $50 million threshold it described as a benchmark discussed by traders. Open interest refers to the value of outstanding derivatives positions at the time of the report, while liquidations reflect positions closed during the specified period. The figures therefore offer two different readings: the amount of derivatives exposure remaining and the value of positions liquidated over 24 hours. The report provided no time-series comparison for open interest or details explaining how it changed before the $37.3 million reading. It also did not identify the stated threshold as an official market benchmark, describing it instead as a reference level discussed by traders.
On price performance, the Coinotag report said SHIB lost 16.44% in the month before publication. The monthly decline provides a time frame for the token’s performance, but does not establish that the liquidations over 24 hours caused it. The available information in the report also did not specify the start or end dates of the month in a way that would allow a more precise comparison with other periods. It did not give a daily price change directly tied to the timing of the liquidations. The monthly decline therefore remains separate from any explanation of the causes of the forced position closures.
The figures came on a day of broader declines in cryptocurrencies, as Reuters reported that prices fell on Friday after Binance announced a potential security issue and said it had frozen assets worth more than $2.5 billion. In that context, Bitcoin fell to a six-week low of $77,646, while Ether dropped to a two-month low of $2,238.76. Those levels relate to Bitcoin and Ether and do not, by themselves, establish SHIB’s price movement or the cause of its liquidations. The founder of 1Token said a temporary freeze of funds could leave a trader profitable on one platform but unable to access capital and facing a margin shortfall on another, potentially leading to forced liquidations. A researcher at HashKey added that disruptions to Binance deposits and withdrawals could affect market makers’ ability to move capital between platforms; the statements did not specify when these developments would occur next.