Open Interest in SHIB Futures Reaches Highest Point Since Late 2024

Shiba Inu Futures Surge as Traders Rotate Into Altcoins

Interest in Shiba Inu (SHIB) derivatives has spiked to its highest level since December, as traders move away from bitcoin and re-engage with high-volatility assets in the broader crypto market.

Open interest in Binance’s 1000SHIB USDT-margined futures contracts climbed to 5.11 billion SHIB, a 39% increase this month alone, according to Coinglass. The contracts, which allow for up to 25x leverage, have become a preferred tool for traders seeking amplified exposure with limited capital. This rising leverage points to a more speculative trading environment, often leading to sharp price swings and potential liquidations.

SHIB Sees Sharp Volatility, Finds New Support

SHIB has surged 38% in July amid a broader altcoin revival. Over the past 24 hours, the token experienced notable intraday volatility, briefly falling from $0.00001571 to $0.00001560 during a 60-minute window. The most aggressive selling occurred between 12:01 and 12:03 UTC, pushing the price to an intraday low of $0.00001548, accompanied by trading volume of over 56 billion tokens.

The price found support around $0.00001546, and has since rebounded to $0.00001575, forming higher lows and suggesting renewed bullish momentum.

Market Indicators Signal Growing Bullishness

• The total crypto market cap recently topped $4 trillion, with Ethereum driving a rotation into altcoins and meme tokens like SHIB.
• SHIB’s burn rate surged 3,615%, with over 100 million tokens destroyed in a single day.
• Exchange-held SHIB supply dropped to $1.14 billion, indicating diminished selling pressure.
• The token traded in a 5% intraday range, between $0.000015815 and $0.000015064.
• Trading volume spiked to 1.394 trillion SHIB during the latest rally.
• A consolidation pattern with declining volume suggests a possible accumulation phase.

With rising open interest, increasing burn activity, and technical indicators pointing toward accumulation, SHIB appears to be positioning for further upside—though volatility remains elevated.