A sudden surge in Shiba Inu prices has caught traders off guard, driven by a potential interest rate cut announcement by the Federal Reserve. According to CoinMarketCap data, the cryptocurrency’s price shot up nearly 5% within the last hour, reaching $0.00001269. This spike followed comments from Fed Chair Jerome Powell in his Jackson Hole speech, suggesting that a rate cut at the upcoming meeting (Sept. 16-17) could be in order. This shift led to significant short positions being liquidated across the crypto market, resulting in $206 million in total liquidations in just an hour. The surge has been particularly dramatic for Shiba Inu, showing a 2,491% imbalance between short and long positions.