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Shiba Inu Faces $52M Short Squeeze Risk Amid Bearish Wedge and Weak Momentum Signals
The cryptocurrency market has been in a state of uncertainty, with many tokens experiencing significant price fluctuations. Among these volatile assets is Shiba Inu (SHIB), which currently finds itself within a bearish wedge pattern and weak momentum signals. As a result, SHIB faces an enormous risk of $52 million in short positions being liquidated.
In order to understand the potential implications of this situation, it’s essential to examine the current price action and technical indicators. According to Coinglass data, if SHIB regains the 10% it recently lost, over $52 million in short positions could be liquidated.
Source: coinchapter.com
