The Shiba Inu derivatives market has experienced a significant shift, with net positions moving from -200 million to over +400 million in net longs as of May 11. This reversal began on May 6, indicating a strong buying momentum that has propelled SHIB's price from $0.00000615 to above $0.00000660, marking a 6.50% increase over the past week.
Open Interest in the Shiba Inu derivatives market has also surged, climbing from just over 5 billion on May 5 to more than 6 billion. This rise suggests that traders are actively opening new positions, indicating sustained demand rather than a temporary technical bounce. However, the elevated Open Interest and long positions pose a risk of forced liquidations if SHIB's price fails to maintain its upward trajectory.
Shiba Inu Derivatives Market Flips to Net Longs Amid Rising Open Interest
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