Shiba Inu Open Interest Collapses, 14.03 Trillion SHIB In Spotlight
Main Idea
Shiba Inu (SHIB) has experienced a decline in open interest and trading volume, with significant whale activity raising concerns about a potential sell-off, despite increased burn efforts to stabilize its price.
Key Points
1. Shiba Inu's open interest dropped by 0.25% in the last 24 hours, with a notable 14.03 trillion SHIB (worth ~$181.63 million) under scrutiny.
2. Trading volume declined by 9.89% to $241.57 million, potentially due to whale activity, including 84.9 trillion SHIB deposited on exchanges, signaling possible selling pressure.
3. SHIB's price fell 1% to $0.00001210, facing rejection at $0.000013 despite increased burn activity aimed at price stabilization.
4. Historical data suggests August is typically a weak month for SHIB, with no immediate catalysts to trigger a price rally.
5. Market participants are closely monitoring SHIB's performance amid these developments.
Description
Shiba Inu slides in crucial open interest trend as bulls prepare for historically bearish August
Latest News
- Most Important Bitcoin Price Level To Watch Out For2025-08-02 16:10:36
- Ripple’s Banking License Update: Here’s Latest Development2025-08-02 15:55:21
- Shiba Inu Open Interest Collapses, 14.03 Trillion SHIB In Spotlight2025-08-02 15:29:01
- Bitcoin (BTC) Price Prediction for August 22025-08-02 15:12:48
- Shiba Inu Countdown: 410,752,071,267,334 SHIB in Five Years2025-08-02 15:11:34