Open interest in Shiba Inu (SHIB) is climbing sharply—here’s what it means.

crypthub

about 4 hours ago

Derivatives Market Activity

Shiba Inu's derivatives activity has risen 8% in 24 hours, with open interest reaching $75.6 million. This reflects growing speculative interest amid expectations of significant price movements. Trading volume surged 16% to $109.23 million, while futures contracts increased by $1.07 million. The rise in open interest and volume highlights heightened market participation despite ongoing price pressures.

Spot Market Caution

Spot traders remain cautious, with $7.78 million in Shiba Inu flowing into exchanges over 24 hours. This contrasts with derivatives optimism, as holders prepare for potential sell-offs. The trend persists over 3- and 5-day periods, indicating sustained uncertainty about short-term price direction. Exchange inflows suggest traders are hedging against further declines.

Price and Future Outlook

Shiba Inu's price has risen modestly, trading near $0.000006 after a recent double-digit correction. A move to $0.0000067 could signal a rebound toward $0.0000099 and $0.0000148. Continued activity in both spot and futures markets will determine short-term price momentum. However, diverging sentiments between derivatives and spot traders remain a key challenge.