Shiba Inu futures flow experienced a dramatic 190% decline in the past 24 hours, as traders shifted focus due to weak price action. Data from Coinglass revealed that futures outflows reached $5.6 million, surpassing inflows of $4.74 million, resulting in a net difference of $865,790 in closed SHIB contracts. This activity effectively removed 156.56 billion SHIB tokens from the futures market, while open interest dropped 6% to $49.4 million.
Despite the downturn in futures interest, spot trading activity showed resilience. Users withdrew 204.5 billion SHIB tokens from exchanges, marking a 3.6% increase from the previous day, as exchange reserves fell by 0.25% to 80.32 trillion. Spot trading volume rose by 18.8% to $11.8 million, indicating continued accumulation by market participants. Shiba Inu's price remained stable at $0.00000553, with analysts suggesting the bearish trend might be nearing its end.
Shiba Inu Futures Flow Plummets 190% Amidst Market Consolidation
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
