Shiba Inu futures' open interest has surged in the last 24 hours, reflecting a shift towards positive market momentum.
Increase in Shiba Inu Open Interest
Over the past 24 hours, Shiba Inu futures open interest has jumped by over 6%, with more than 9.2 trillion SHIB tokens now committed in the futures market.
Shiba Inu Open Interest Spread
According to CoinGlass, the dollar value of total committed SHIB is $121.63 million. Gate.io led with the highest exposure, holding 6.92 trillion SHIB valued at $90.26 million. Bitget followed with 974.05 billion SHIB.
Impact of Shiba Inu Ecosystem
The Shiba Inu ecosystem has seen varying trends over the past months, including a significant drop in Shibarium transaction count. However, key growth metrics such as a 5400% spike in burn rate indicate renewed project momentum.
Despite market volatility, Shiba Inu's open interest portrays positive sentiments towards the coin's potential. Such trends could support an optimistic investor outlook.
