#shibaInu Ignites the market!
Open interest in futures #SHIB reaches its highest since December, indicating a surge in volatility
The Shiba Inu derivatives market is in full swing, with open interest in futures 1000SHIB on Binance reaching 5.110 billion SHIB (about $80 million USD), the highest level since early December 2024, according to Coinglass data.
This 39% increase in July 2025 reflects a massive influx of capital into derivatives, driven by traders shifting their focus from Bitcoin to high-volatility altcoins like SHIB, in a bullish market context following President Trump's signing of the GENIUS Act on July 18.
The price of SHIB has risen 38% this month, reaching $0.00001575 after an intraday correction on July 21 from $0.00001571 to $0.00001548, with a trading volume exceeding 56 billion tokens in minutes. The formation of support at $0.00001546 and higher lows suggest bullish momentum, supported by a token burn of 3.615% (100 million SHIB removed in a session) and reserves on exchanges at annual lows of $1.140 billion, reducing selling pressure.