Shiba Inu Sees Brief Price Recovery and Shorts Exit

The Shiba Inu cryptocurrency saw a brief price increase above the daily moving average (MA) 50, causing short positions to temporarily exit in four hours.

According to data from CoinGlass, $0 in short liquidations occurred in the last four hours, while long liquidations reached $67,340. This indicates that long traders were caught off guard by the sudden price drop and had anticipated a continued increase in SHIB's value.

The unexpected price move saw Shiba Inu return below the daily MA 50, with its current price at $0.00000596, up 0.53% in the last 24 hours and 0.69% weekly. The cryptocurrency is attempting to break past the daily MA 50 at $0.000006, which could lead to a further increase in price if achieved.