Shiba Inu Price Sees Brief Recovery Amidst Market Uncertainty

Shiba Inu's price has shown signs of recovery in recent days, rising to $0.00000622 earlier this week before falling back below its daily moving average (MA) of $0.00000604.

The sudden price drop led to a brief exit of short positions, with no short liquidations recorded in the last four hours, while long positions were liquidated instead. This suggests that long traders were caught off guard by the sudden price increase and are now adjusting their positions.

According to CoinGlass data, Shiba Inu saw a total of $89,620 in liquidations over the past 24 hours, with long positions accounting for $67,340 and short positions accounting for $22,280. This indicates that traders are still anticipating a price increase for Shiba Inu.

The altcoin market as a whole continues to show signs of optimism, despite some coins being trapped in tight trading ranges since early February.