Shiba Inu has drawn renewed attention from derivatives traders as futures activity posts a notable increase. The move reflects improving sentiment despite ongoing pressure in the broader crypto market. Data shows traders positioning cautiously while watching for a potential price rebound. However, declining spot volume continues to temper expectations.
Shiba Inu Futures Open Interest Signals Trader Re-Engagement
According to CoinGlass data, Shiba Inu futures open interest climbed by 16% within the last 24 hours. A total of 11.21 trillion SHIB has been committed to the futures market, valued at roughly $69.2 million. The open interest often reflects trader demand and directional conviction. The increase suggests participants are rebuilding exposure after recent price weakness.
CoinGlass figures show Gate exchange leading this renewed positioning. Traders on the Gate account for 41.64% of total SHIB open interest over the period. They committed 4.77 trillion SHIB, worth about $28.82 million. Bitget follows with 13.6% of open interest, valued at $9.41 million. OKX and LBank hold 11.21% and 1.28%, representing $7.76 million and $7.81 million, respectively.
Despite the rise in futures interest, the optimism remains selective. Several traders continue to limit exposure due to lingering volatility risks. CoinGlass data suggests leverage usage remains measured compared to previous speculative spikes.
Price Stabilizes as Volume Declines Across Exchanges
Shiba Inu has shown early signs of technical stabilization after breaking a short-term downtrend. The token held above the key pivot level of $0.000005967 over the past 24 hours. SHIB earlier dropped from a daily high of $0.0000064 to a low of $0.000005971. That move briefly threatened the support zone.
At the time of writing, SHIB traded at $0.000006341, reflecting a 1.79% increase in the last 24 hours. Volume declined by 47.35% to $180.48 million, according to market data. The falling volume may limit near-term upside unless fresh participation returns.
On-chain data adds another layer to the outlook. Over the past 24 to 48 hours, more than 700 billion SHIB moved across exchanges. Reports indicate outflows exceeded inflows, suggesting reduced selling pressure. The investors are moving tokens into private wallets after reconsidering sell decisions.
Source: https://coinpaper.com/14383/shiba-inu-price-prediction-futures-jump-16-as-traders-eye-rebound-above-0-000006
