#Shiba
๐๐๐๐๐ ๐๐๐ . . . โคโคโค๐๐๐๐๐๐๐๐โคโค
๐๐๐๐๐ ๐๐ฃ๐ช ๐๐ช๐ฉ๐ช๐ง๐๐จ ๐๐ฅ๐๐ฃ ๐๐ฃ๐ฉ๐๐ง๐๐จ๐ฉ ๐ ๐ช๐ข๐ฅ๐จ 7%, ๐๐๐ก๐ก ๐๐ง๐๐๐ ๐๐ค๐ก๐ก๐ค๐ฌ?
(SHIB) traders have locked 11.05 trillion SHIB tokens worth $129.39 million as investors bet heavily on the Shiba Inu futures market. According to CoinGlass data, this represents a 7.34% increase in open interest in the last 24 hours.
The development suggests that market participants have bullish sentiments about SHIB's prospects. Notably, the futures derivatives market is confident in the meme coinโs outlook. This marks a shift from the recent downturn, which the dog-themed meme coins and other assets have been experiencing.
CoinGlass data shows that most of Shiba Inuโs open interest capital came from traders on the Gate.io exchange. These traders account for 55.19% of the total open interest, which amounts to $71.74 million in fiat currency, or 6.49 trillion SHIB.
Bitget and OKX traders also show grit, accounting for 15.93% and 10.41%, respectively. This represents 1.88 trillion SHIB and 1.23 trillion, in that order.
The bullish sentiment suggests the price might climb if the current momentum lingers. As of press time, the Shiba Inu price was changing hands at $0.00001102, representing 6.1% in the last 24 hours.
The value of SHIB can hit a higher price level if the ecosystem supports its move. However, trading volume did not match the price rebound move during this period. Shiba Inu volume remains in the red zone by a significant 3.21% at $214.96 million.
