Shiba Inu Futures Heat Up as Open Interest Hits Highest Since December
Shiba Inu (SHIB) is experiencing renewed interest in the derivatives market as traders shift focus from Bitcoin to high-volatility altcoins. Open interest in Binance’s 1000SHIB USDT-margined futures has climbed to 5.11 billion SHIB, the highest level since December, according to Coinglass data. This marks a 39% increase in July alone, signaling strong capital inflows into SHIB-linked leveraged products.
The 1000SHIB futures offer up to 25x leverage, enabling traders to control larger positions with smaller capital—heightening both potential returns and risks. The sharp rise in open interest suggests growing speculative activity, which could translate into higher volatility and an elevated risk of liquidations.
Price Volatility Returns as SHIB Builds Fresh Support
SHIB has gained 38% in July, supported by broader capital rotation into altcoins. Over the past 24 hours, SHIB exhibited notable two-way volatility. The token declined by 0.73%, dropping from $0.00001571 to $0.00001560 between 11:30 and 12:29 UTC on July 21. Selling intensified between 12:01–12:03 UTC, where SHIB briefly dipped to $0.00001548 amid heightened volume exceeding 56 billion tokens.
The decline formed a new support zone near $0.00001546, with price rebounding to $0.00001575, signaling buying strength and a recovery marked by higher lows.
On-Chain and Market Signals Turn Bullish
- Crypto market cap exceeds $4 trillion, led by Ethereum gains, prompting capital rotation into altcoins and meme tokens like SHIB.
- SHIB burn rate skyrocketed 3,615%, with over 100 million tokens destroyed in one session.
- Exchange reserves dropped to $1.14 billion, reflecting reduced selling pressure.
- SHIB traded within a 5% intraday range ($0.000015815 to $0.000015064).
- Volume surged to 1.394 trillion SHIB during the initial price rally.
- A forming consolidation pattern suggests accumulation, with diminishing volume and a stable support base.
Shiba Inu’s derivatives growth, on-chain improvements, and strengthening technical setup point to an increasingly bullish outlook—though volatility is expected to remain high as leveraged positions build.
