SHIB News: Shiba Inu Long Bets Crushed as $1.8M Liquidated; SHIB Eyes Key Reversal

Key Takeaways:SHIB long/short ratio drops to 0.9298, signaling bearish sentiment.Over $1.8M in long positions liquidated since June 12.SHIB price down 10% this week but holding key support at $0.00001100.Indicators show potential bullish reversal forming.Shiba Inu (SHIB) traders are turning cautious after a sharp 10% decline sent the token to a two-month low of $0.00001134. The long-short ratio in SHIB's perpetual futures market has dropped to 0.9298, reflecting growing bearish sentiment, according to CoinDesk AI Insights.Data from Coinglass shows that over $1.8 million in long positions have been liquidated since June 12, while short liquidations totaled under $500,000. Open interest fell 2.14% to $145.33 million, highlighting reduced risk appetite among leveraged traders.Despite the bearish pressure, SHIB continues to hold support above $0.00001100, and technical indicators suggest a potential trend reversal. A bullish crossover is forming on the MACD, and the RSI is showing oversold signals, pointing to a likely bounce.If momentum builds, SHIB could rally toward the 23.6% Fibonacci retracement level at $0.00001390.