Shiba Inu (SHIB) Risks Losing $50 Million OI Threshold

Shiba Inu is trading close to $0.00000495 , and its derivatives market is cooling. Open interest sits at about $37.3 million, well under the $50 million level that traders watch as a signal of healthy activity. Futures volume over 24 hours is $49.3 million, while spot volume is only $10.8 million. This means most of the movement comes from leveraged bets, not from real buying. SHIB has lost 3.53% over the last week and 16.44% over the last month. Year to date, it is down 28.3%. In the last 24 hours, the coin gained 1.75%, but this looks more like a small bounce than a real turn. On the daily chart, SHIB peaked near $0.00000620 in late September and has fallen since then.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to U.Today.