13 Trillion SHIB Traded in 24 Hours as Shiba Inu Futures Signal Possible Sentiment Shift
Shiba Inu’s derivatives market is showing signs of hesitation—but not collapse. While futures activity has cooled slightly, traders are still heavily involved, with more than 13.07 trillion SHIB tied up in open contracts over the past 24 hours.
According to data from Coinglass, Shiba Inu’s open interest slipped by just 0.93% over the last day. That mild dip suggests traders are stepping back cautiously rather than exiting the market altogether. Even after the pullback, total open interest remains substantial at roughly $108.9 million, highlighting continued engagement across major futures platforms.
Futures Activity Slows, But Interest Remains High
The modest decline in open interest mirrors SHIB’s short-term price weakness. Over the past 24 hours, Shiba Inu fell 3.08%, trading near $0.00000818 at the time of writing. Trading volume also dropped sharply, sliding more than 40% to around $93.5 million, a sign that traders are waiting for clearer direction.
However, the scale of outstanding futures positions suggests sentiment hasn’t turned decisively bearish. Instead, market participants appear divided, with neither bulls nor bears taking firm control. This kind of standoff often precedes a sharper move once conviction returns.
Market Signals Point to a Possible Flip
Despite slower momentum, the sheer size of SHIB’s open interest indicates that traders are still positioning for a potential shift. A buildup of contracts without strong price movement typically reflects uncertainty—but it can also set the stage for increased volatility.
On-chain and derivatives data suggest that traders are currently hedging rather than aggressively betting in one direction. If volume and price begin to recover together, it could quickly flip sentiment in favor of a short-term rebound.
Gate.io Dominates SHIB Futures Activity
Among derivatives exchanges, Gate.io continues to lead Shiba Inu futures trading. The platform accounts for 39.13% of total open interest, representing approximately 5.22 trillion SHIB, valued at around $42.6 million.
This concentration shows that while overall activity has slowed, certain exchanges still host strong trader participation. Any increase in momentum on these platforms could have an outsized impact on SHIB’s next move.
What Comes Next for SHIB?
For now, Shiba Inu remains in a waiting phase. Price weakness and declining volume suggest short-term caution, but sustained open interest above 13 trillion SHIB signals that traders haven’t lost confidence. If fresh catalysts emerge or broader market sentiment improves, SHIB’s futures positioning could quickly turn from neutral to directional.
Whether the next move favors bulls or bears will likely depend on volume returning alongside a decisive price break—something traders are watching closely in the days ahead.
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