SHIB Futures Activity Bleeds Heavily Amid Unexpected Market Shift

Shiba Inu (SHIB) futures activity has sharply declined amidst an unexpected market shift, with its open interest falling by approximately 17% in the last 24 hours. This signals traders are rapidly exiting positions to hedge against potential risks due to a sudden market downturn. SHIB's price dropped 3.81%, currently trading around $0.0000085 after hitting a peak near $0.0000103 earlier. The significant reduction in futures contracts highlights growing uncertainty and hesitation among market participants. Despite the bearish short-term outlook, analysts anticipate this correction may be temporary, possibly setting SHIB up for a strong rally in the near future

SHIB

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