Shiba Inu Rebounds: Open Interest Soars by 36%

by Giorgi Kostiuk

2 years ago

Shiba Inu (SHIB) is experiencing a rebound, rising by 36% in open interest over the last 24 hours while breaking through a critical price level at $0.0000211.

Surge in Open Interest Across Exchanges

Recent data from CoinGlass reveal that approximately $181.45 million, or 8.34 trillion SHIB, was locked in outstanding derivatives contracts within 24 hours. Gate.io reported the highest open interest of 4.93 trillion SHIB, comprising 58.98% of the total, valued at $107.02 million. Other platforms such as Bitget and OKX followed with 1.70 trillion SHIB and 1.06 trillion SHIB, respectively.

Price Movements and Trading Dynamics

In the last 24 hours, SHIB climbed from $0.00002055 to $0.00002198. As of writing, it trades at $0.00002158, a 2.85% increase. This can be attributed to a recent token burn initiative, drastically reducing supply by 21,709,094 SHIB.

Market analysts speculate that Shiba Inu might be on the verge of a significant rebound as it approaches oversold conditions, suggesting a potential for recovery.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Tier I

Requires 25% Tier Progress to Claim

Meme Cache

Tier I

Requires 50% Tier Progress to Claim

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Tier I

Sector: #18291

25%

50%

75%

100%

Tier II

Survivors rescued:

0 / 600

Survivors

0/0

Transmit Signal

Broadcast this sector's coordinates to other rescuers.

Other news

Crypto Billionaires Donate £72 Million to Reform UK

Two crypto billionaires donated £72 million to Reform UK to support its campaign and policy development ahead of potential elections.

Zainab Kamara7 hours ago

Tesla's Financial Results Highlight AI Investment Strategy

Tesla's financial results reveal a complex relationship between automotive sales and AI investments.

Son Min-ho18 hours ago

Tesla Transforms into an AI Empire Beyond Cars

Tesla is evolving beyond a traditional car company, focusing on AI and its investments in SpaceX.

Ayman Ben Youssef19 hours ago

MEXC's Tokenized Stocks and ETFs Experience 30% Growth

MEXC reported a 30% month-on-month increase in spot trading volume for tokenized stocks and ETFs, reflecting broad-based growth.

Kofi Adjeman2 days ago

MEXC Reports Significant Growth in August Trading Data

MEXC reports significant growth in trading volumes across various asset classes in August 2026, with a 130% month-on-month increase in stock, index, and ETF Futures.