news 
**Shiba Inu (SHIB) Price Drops 10%, $1.8 Million in Long Positions Liquidated**
The price of Shiba Inu (SHIB) has plummeted by a staggering 10% over the past week, reaching two-month lows. This significant decline has resulted in the liquidation of an astonishing $1.8 million worth of bullish positions.
As reported by Trader Edge, this substantial loss for long traders is a stark reflection of the overwhelming bearish sentiment currently affecting SHIB. The derivatives market data reveals that more traders are now betting against SHIB than supporting it, as indicated by the 0.9298 long-short ratio drop.
The article highlights that over $1.8 million worth of bullish positions were liquidated since June 12, whereas short positions closed out at less than $500,000 during the same timeframe. This drastic difference underscores the profound bearish sentiment within the SHIB derivatives market.
Source: coincentral.com
