Shiba Inu Risks Losing $50 Million Open Interest Threshold

Shiba Inu is trading around $0.00000495, and the derivatives market for the token is cooling down. Open interest is approximately $37.3 million, noticeably below the $50 million level that traders view as a signal of healthy activity. The 24-hour futures volume is $49.3 million, while the spot volume is only $10.8 million. Most of the movement is due to leveraged trades rather than actual purchases.

Over the week, SHIB lost 3.53%, over the month – 16.44%, and since the beginning of the year – 28.3%. In the last 24 hours, the coin gained 1.75%, but this is more of a small rebound than a real reversal. On the daily chart, SHIB peaked around $0.00000620 at the end of September and has been declining since. The price is below all major moving averages: the orange line around $0.00000520 and the blue around $0.00000523 form the first barrier, while the long-term black line around $0.00000555 is significantly higher.

Support is close: the minimum around $0.00000476 has held for several days. If breached, the next zone is $0.00000450, and below that is $0.00000430.

Trading volume continues to decline, with candles showing weak interest from both buyers and sellers. RSI is around 40 – a weak value, but not reaching oversold zones.

Liquidations in the last 24 hours amounted to about $20 million: long positions lost $12.9 million, short positions – $7 million. On the spot market, net sales were recorded in the last hour and four hours. On OKX, the ratio of long to short positions is 2.71, meaning most traders are betting on growth. This is a risk in case of a decline: a drop will force many to close long positions.

SHIB needs to reclaim the $0.00000520 level for a real recovery; closing above with increasing volume will be the first positive signal. A move below $0.00000476 could push open interest below $37 million and drag the price down to $0.00000450.