Shiba Inu SHIB/USD saw one of its largest-ever liquidation days on record on Thursday.
What Happened: According to data from CoinGlass, $16.84 million SHIB short positions were liquidated on July 28.
Meanwhile, long SHIB positions saw $300,000 worth of liquidations, taking the total number of SHIB liquidations to $17.14.
The single largest liquidation order across all cryptocurrency exchanges also belongs to a Shiba Inu trading pair on Bitfinex. The liquidated SHIB perpetual contract was valued at $5.57 million.
SHIB was also the fourth-most liquidated crypto asset after Ethereum ETH/USD, Bitcoin BTC/USD and Ethereum Classic ETC/USD, a somewhat unusual scenario given its comparatively lower daily trading volume.
ETH traders saw $243 million liquidated, while BTC traders and ETC traders recorded $77 million and $38 million in liquidations, respectively.
See Also: Recession? Analyst Says Bitcoin, Ethereum, Dogecoin Rally Looks Set To Continue Unabated
Price Action: According to data from Benzinga Pro, SHIB was trading at $0.00001192, up 4.9% over 24 hours. The token traded between an intra-day low of $0.00001116 and an intra-day high of $0.00001215 on Thursday.
Image and article originally from www.benzinga.com. Read the original article here.