Shiba Inu recovered more than 10% of its intraday low
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Shiba Inu (SHIB) managed to cut recent losses, hitting over 8% in one hour to hit an intraday high of $ 0.00004763.
The coin is currently leading the modest recovery in the cryptocurrency market with Avalanche (AVAX).
According to Currency data, over $ 1 million worth of SHIB tokens have been liquidated in the past hour, with short positions accounting for over 70% of the sum.
SHIB is down -44.96% from its all-time high on Oct. 28 at the time of publication. On November 18, it almost slipped below the $ 0.000004 level, hitting its lowest level since October 26.
While the pullback was quite extreme, market watchers were expecting it after the headline-grabbing gains for Shiba Inu during the second part of October.
Bitcoin and Ether are down -16.67% and -13.91% from their respective highs.
Dogecoin, the main dog coin, is down -68.29% from its price record set by Elon Musk reached in early May.
Although Shiba Inu’s uptrend is on hold, it continues to be incorporated through new exchanges, with the opening of Vienna-based Bitpanda. a euro market for the same room earlier in the day.