Despite the downturn in the market, SHIB's vital indicators demonstrate resilience, offering a nuanced view of the situation. The broader crypto market has experienced significant selling pressure, resulting in considerable liquidations, with Shiba Inu being no exception to this trend.

Long traders, who anticipate the token's future growth, accounted for a majority of liquidations at $3.45 million, while short traders, betting on price declines, faced significant liquidations totaling $186,400.

SHIB Price and Recovery Efforts

The recent price decline in Shiba Inu has disrupted its recovery efforts, with the token currently trading at $0.00002453. Despite these challenges, SHIB has managed to maintain support at the $0.000023 level. However, overcoming obstacles ahead remains uncertain.

Despite market turmoil, some key metrics for Shiba Inu are demonstrating strength. Large transactions, particularly those exceeding $100,000, have experienced a notable surge.

According to data from IntoTheBlock (ITB), these large transactions have increased by as much as 276.29% in the past 24 hours, totaling $212.56 million. This uptick suggests sustained interest and activity in SHIB despite prevailing bearish sentiment.

The number of transactions on the Shiba Inu network has risen by 5.62%, reaching 5,750 from 5,200 as of April 10. Trading volume has surged by $167.03 million in the past 24 hours, reaching $1,199,915,774. This increase indicates growing trader interest in the asset.

The divergent trends in SHIB's key metrics present a multifaceted view of its market dynamics. Despite facing significant liquidations and price declines, the resilience observed in critical metrics like large transactions suggests underlying strength. The future trajectory of SHIB remains uncertain, with market participants closely monitoring for signs of a potential turnaround.