Shiba Inu’s Open Interest Surges, Fueling Renewed Optimism

After a recent downturn in interest, the Shiba Inu (SHIB) derivatives market is showing signs of renewed activity. Coinglass data reveals a significant jump in open interest for SHIB, with the metric surging to 13.93 trillion tokens after hitting lows earlier this week. This marked increase signifies growing confidence within the SHIB community and raises hopes for further price gains. SHIB traders are now displaying increased willingness to enter new positions on the asset’s potential, as demonstrated by the recent surge in active futures contracts worth over $182 million. 💰