Shiba Inu Futures Open Interest Surges 7% Is a Price Rally Next?
Shiba Inu (SHIB) futures open interest has soared by 7.34% in the past 24 hours, as traders ramp up their bets on the popular meme coin. Data from CoinGlass shows that investors have locked up 11.05 trillion SHIB tokens, valued at approximately $129.39 million, signaling growing confidence in the futures market.
The sharp rise in open interest reflects renewed bullish sentiment among market participants, following a period of weakness for Shiba Inu and other dog-themed meme coins. With this upswing in derivatives activity, traders appear increasingly optimistic that SHIB could be poised for a rebound.