Shiba Inu Price Prediction: Can SHIB Hold Key Support?

Shiba Inu is changing hands near $0.00000515, up 2.85% on the day. That’s a smaller pop than the fireworks earlier this week, but the setup behind it is more interesting than the number itself. What’s driving the token back toward a level it hasn’t held cleanly in weeks? The answer traces back to Wednesday’s liquidation event. SHIB surged more than 12%, briefly touching $0.00000502, as roughly $3.38 billion in total crypto liquidations swept the market across 192,002 traders, per CoinGlass data cited in market reporting. BREAKING: Crypto markets officially post their 7th largest liquidation event in history, with $3.5 billion in levered positions liquidated in 24 hours. In 24 hours, crypto markets added +$280 billion in market cap. That's +$12 billion in market cap per hour for 24 hours… pic.twitter.com/zpEsLeRhp9 — The Kobeissi Letter (@KobeissiLetter) August 20, 2026 Short positions absorbed about $3.1 billion of that total, the largest single wave of forced short closures on record since 2021. Long liquidations totaled just $275.45 million, a lopsided ratio that turned bearish traders into forced buyers. That short squeeze dynamic, layered on top of renewed optimism around the C...