Shiba Inu futures saw fewer losses at over $1.35 million
The majority of cryptocurrencies have lost key support levels over the past 24 hours due to declining sentiment in the broader crypto market, resulting in approximately $883 million in liquidations, according to data from Coinglass.
Ether-tracked futures lost over $358 million, which is pretty close to the $400 million loss experienced by Bitcoin futures. During the current market sell-off, futures on Solana, Dogecoin and XRP lost $18.60 million, $4.77 million and $5.54 million, respectively. Futures on Cardano’s ADA lost $7.53 million, while Avalanche (AVAX) saw $4.89 million in losses.
However, Shiba Inu futures saw fewer losses at over $1.35 million, in part due to its cheaper valuation.
According to WhaleStats data, Shiba Inu continues to face accumulation from whales, ranking among the most purchased tokens for the top 500 ETH whales in the last 24 hours.
Shiba Inu utility has increased among whales as SHIB remains one of the most used smart contracts in the top 2,000 #ETH whales in the last 24 hours.
Shiba Inu price action
Shiba Inu fell as low as $0.0000073 in the early hours of Monday, losing some 12% of its value over the past 24 hours. Shiba Inu has added an extra zero to its price tag as it is set to mark the seventh consecutive day of losses.
The price charts show support at $0.000006 or lower and then a barrier at $0.0000014, which has functioned as resistance since mid-April. Shiba Inu climbed thousands of percent higher to all-time highs of $0.000088 on October 28, 2021, after similar lows were seen before.
Also, Shiba Inu gained more holders in June. According to WhaleStats, the total number of SHIB holders is currently 1,178,528. The average SHIB balance of the top 100 SHIB holders also slightly increased, to 2.8 billion at press time.
