Investor interest in Shiba Inu (SHIB) has surged following an unexpected spike in the futures market activity, with over $147 million committed to trades.
Increase in SHIB Trading Activity
According to CoinGlass data, a total of 11.46 trillion SHIB tokens were locked in futures positions. Open interest increased by 4.86 percent, indicating a rise in the number of investors expecting a SHIB rally.
Whale Impact on the Market
Over the last 48 hours, major holders significantly influenced the market, moving 5.96 trillion SHIB between their wallets. During the weekend, 3.36 trillion SHIB was bought and sold, increasing the volume of large transactions by 249 percent.
Signals of Potential Price Growth
These movements suggest that major holders and institutional traders may be positioning themselves ahead of a possible breakout. SHIB’s price reacted accordingly, recording a 1.67 percent gain, rising to $0.00001214. Trading volume also increased by 6.28 percent.
Rising interest in SHIB futures, coupled with increased whale activity, reflects a strengthening bullish outlook for the token. The coming days are crucial to determine SHIB's further momentum.
