Shiba Inu
Why Shiba Inu is up 1.4% in the last hour
Analysis
Shiba Inu (SHIB) ticked up 1.4% over the last hour amid derivatives-market shifts after SHIB open interest reportedly fell below the $30 million threshold for the first time since 2024. U.Today noted the drop in open interest, which can coincide with position unwinding and reduced leveraged pressure, potentially allowing spot buying to nudge price higher in the near term.
Contributing Factors (1)
$30 Million Shiba Inu (SHIB) Open Interest Threshold Gone for First Time Since 2024
Shiba Inu see substantial plunge in open interest, to the lowest level in years.
Move Details
Explanation Confidence
Moderate confidence. Multiple factors may be contributing.