Top meme coin Shiba Inu recorded a 699,000% liquidation imbalance as its price dropped sharply along with the broader crypto market . This has again sparked a bearish sentiment, with the bears looking to be in control.

How the Shiba Inu 699,000% Imbalance Happened

Coinglass data showed that the Shiba 699,000% imbalance occurred due to the large disparity in the long and short positions that were liquidated in the space of one hour. This came as the SHIB price sharply dropped alongside the broader crypto market, led by Bitcoin, which declined to as low as $112,500 in the last 24 hours.

The Shiba Inu price has dropped to as low as $0.00001206 during this period from an intraday high of $0.00001264, flushing a significant amount of long positions in the process. Furthe

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