Emergency Notice: Has the Shiba Inu Dog 'Bit Someone' Again? What Signal Lies Behind the $383,000 Liquidation?

Today, the SHIB price is still in a typical downtrend channel from a technical perspective, but suddenly liquidated $383,000 worth of long positions within 24 hours.

Most of this liquidation was high-leverage long positions being wiped out, as the bears stepped on the gas, completely pressing the bulls down to the floor.

From the derivatives data, current market sentiment remains bearish. The negative funding rate and increasing short open interest indicate that the bears currently hold the initiative.

But here’s the problem: with so many people shorting, what if the market suddenly reverses and blows up the bears? That could be a classic 'short squeeze' scenario. The price action has already tested the lower support at 0.0000119 several times, and this level is crucial. If it holds, don’t be surprised if there’s a sudden spike in the short term.

Technical indicators are not very friendly.

On the daily chart, SHIB's RSI has dropped to 38, indicating significant selling pressure; the MACD is also lifeless in the negative zone. This structure is a typical bearish control pattern, and the probability of continuing to decline is not small.

If it breaks below 0.0000119 next, be careful of accelerated downward movement, heading straight for 0.000009.

The turning point signal has not yet been confirmed.

Historically, SHIB, a 'dogged' coin, tends to have some pullback action whenever it hits the lower band. Similar price movements occurred in March and April this year, followed by a sudden surge.

Will this happen again?

The core factor is whether there will be an influx of capital or news stimuli in the short term. If the bears press too hard, they could also be squeezed out, which is not impossible.

In short, SHIB now resembles a dog fixated on a bone: either it seizes the rebound opportunity or gets trapped in a cage.

Traders should pay special attention to the support level defenses in the coming days.

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