SHiba Inu Market Sentiment Shift: Unprecedented Open Interest Drop Sparks Uncertainty

U.Today has published a new report showing that Shiba Inu open interest faces a significant twist of 11,350,000,000,000 SHIB. This unprecedented drop in SHIB futures’ open interest is raising concerns about potential price drops and increased market uncertainty.

According to data from CoinGlass, the open interest in SHIB has plummeted by 10% in just 24 hours. This drastic fall equals approximately 11,350,000,000,000 SHIB. Such a massive decline in open interest across major exchanges OKX, Binance, and others is unprecedented, sparking fears about potential selling pressure on the market.

Data from IntoTheBlock reveals that large holders have moved 40% more SHIB than previous days, indicating a possible trend reversal. However, this data also suggests an overall shift in sentiment among traders.

While it’s difficult to predict the future price movement of any asset with certainty, the current data shows an unexpected twist for Shiba Inu open interest.

Source: u.today