In the last 24 hours, Shiba Inu investors have locked a total of 10.71 trillion tokens in open interest amid price volatility.
SHIB Price Declines, But Futures Interest Remains Strong
According to CoinGlass data, the open interest reveals that investors have committed $129.51 million to lock in 10.71 trillion SHIB tokens. Meanwhile, SHIB's price has declined over 3%, currently standing at $0.00001138.
Trading volume remains significantly high, up 58.65% at $131.56 million, indicating active trading among investors.
Shiba Inu's Key Support Zone Under Threat
Shiba Inu investors are focused on the $0.000011 price level, which is seen as a critical support. If the price drops below this level, a massive sell-off is likely as 222,450 addresses have accumulated 43.8 trillion SHIB tokens at this price.
Overall Market Insights
Despite the price instability, Shiba Inu shows resilience in the face of market volatility and stays ahead of other altcoins in terms of market capitalization.
Therefore, futures interest in Shiba Inu remains strong, despite the current price decline, while key support remains at risk.
