- Nearly $50K in SHIB short positions were wiped out in a sudden squeeze
- Rising Bitcoin price helped boost sentiment across meme coins
- Open interest and trading volume for SHIB are climbing again
Shiba Inu has delivered a sharp move higher, triggering a wave of short liquidations and catching bearish traders off guard. In the past 24 hours, nearly $50,000 worth of SHIB short positions were wiped out, marking a sudden shift in momentum for the popular memecoin.
The move comes at a time when the broader crypto market is still trying to stabilize. Bitcoin’s push toward the $74,000 level has helped lift sentiment across the board, and SHIB appears to be one of the assets benefiting from that renewed optimism… even if just for now.
Short Squeeze Catches Traders Off Guard
Data shows that roughly 7.94 billion SHIB tokens tied to short positions were liquidated during the rally. In total, short liquidations accounted for about 84.7% of all positions, reaching approximately $59,170.
Long positions, by comparison, came in much lower at around $9,050. That imbalance highlights how heavily traders were leaning bearish before the move.
Short positions typically reflect expectations that price will fall. But when the market moves in the opposite direction, those positions can unwind quickly, forcing traders to buy back in and pushing prices even higher. That’s exactly what played out here.
Bitcoin’s Strength Is Lifting Meme Coins
A big part of SHIB’s move appears tied to Bitcoin’s recent strength. BTC has been climbing again, with its price pushing toward the $74,000 range as geopolitical tensions reshape market behavior.
Bitcoin is increasingly being treated as a kind of safe haven asset in uncertain conditions. When BTC gains momentum, it often pulls the rest of the market higher, especially high-risk assets like memecoins.
SHIB’s rally fits that pattern. As confidence returns, traders tend to rotate into more speculative plays, hoping to capture larger upside.
Open Interest and Volume Are Rising Again
Another notable shift is the increase in SHIB’s open interest. The metric has climbed to around $60.9 million, suggesting that more capital is entering futures markets tied to the token.
At the same time, spot trading volume has surged significantly, jumping about 112% in the last 24 hours to reach roughly $22.3 million.
These indicators usually point to growing market participation. More traders are entering positions, which can increase volatility… and potentially fuel larger moves in either direction.
Long-Term Outlook Still Mixed
Despite the short-term rally, long-term projections for SHIB remain mixed. According to CoinCodex forecasts, the token could see modest movement in the coming years before potentially reaching higher levels further out.
Estimates suggest SHIB may trade around $0.000005725 by the end of 2026, before fluctuating lower in 2030. Longer-term projections extend to around $0.00001018 by 2040 and potentially higher by 2050.
For now, though, SHIB’s latest surge is more about momentum than fundamentals. The short squeeze has injected energy back into the market, but whether it turns into a sustained trend… that part is still uncertain.
