Shiba Inu (SHIB) defied typical market dynamics by maintaining gains despite experiencing a severe liquidation imbalance that typically signals downward pressure.
The meme token traded at approximately $0.00000721, up 2.12% on December 26.
That gain came even as long positions absorbed overwhelming liquidations in the derivatives market.
What Happened
CoinGlass data showed approximately $10,590 in long positions got liquidated over a four-hour period.
Short positions faced just $213.72 in liquidations during the same window.
The ratio created a 5,000% imbalance favoring shorts over longs.
Such one-sided wipeouts typically indicate overleveraged buyers getting caught in forced selling.
Price action on Binance showed a quick jump followed by consolidation near session highs.
The move contrasted with typical patterns where heavy long liquidations trigger sustained price declines.
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Why It Matters
The resilience suggests spot buyers stepped in after forced selling cleared leveraged positions from the market.
Traditional short-squeeze dynamics did not apply since shorts barely took losses.
Instead, the flush appeared to reset crowded leverage positions without dragging spot prices lower.
The meme coin market has seen repeated liquidation waves during the holiday period.
Earlier data from U.Today showed SHIB recorded $103,730 in long liquidations versus just $895 in shorts over a 24-hour period ending December 24.
If SHIB maintains support around $0.0000072, traders may view the imbalance as a leverage reset.
A breakdown through $0.000007 could trigger deeper selling and invalidate the current price stability.
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