Shiba Inu (SHIB) has recorded a substantial surge in open interest, reaching 14.73 trillion tokens over a 24-hour period, equivalent to approximately $190.3 million. This milestone reflects heightened bullish sentiment and indicates potential for continued price appreciation.
Despite a minor 1.6% decline in trading volume to $225.6 million, SHIB’s price demonstrated resilience with a 1.5% increase to $0.00001292. The consistently elevated open interest underscores sustained investor participation, contributing to SHIB’s 14.6% monthly growth.
The cryptocurrency’s upward momentum coincides with capital rotation from Bitcoin, which recently scaled the $118,000 level. This movement of funds into altcoins like SHIB signals renewed market confidence across the broader digital asset ecosystem.
Analysts suggest SHIB could target $0.0000145 if it maintains support above $0.000013 coupled with increasing trading volume, potentially forming the next significant technical breakout.