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Don't Look Now, but Shiba Inu Is Skyrocketing Once Again

TheMotleyFool

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Don't Look Now, but Shiba Inu Is Skyrocketing Once Again

The latest meme-token rally appears to be picking up steam today. As of 12:20 p.m. ET on Monday, Shiba Inu (CRYPTO: SHIB) had surged 14.4% higher over the previous 24 hours, outpacing the broader cryptocurrency market by a wide margin.

This move appears to be linked to short liquidations in the market. Today, the SHIB, SHIB1000, and 1000SHIB contracts saw $4.8 million in total liquidations, with the vast majority of these liquidations taking place on short positions.

Image source: Getty Images.

Source Fool.com

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