Shiba Inu Open Interest Jumps ~8% to $75.8M as Traders Re-enter Derivatives
Shiba Inu (SHIB) open interest in derivatives rose roughly 8% in 24 hours to $75.76 million — equal to over 10 trillion SHIB in unsettled positions, per CoinGlass. The pickup signals renewed trader engagement as year-end positioning accelerates. Price gained about 1.8% in the same period to $0.000007344 but remains down on the week. Research firm 10x Research notes that holiday liquidity is typically thin, yet current futures, ETF flow and options activity point to coordinated de-risking and renewed momentum into the close of the year. Separately, Shiba Inu partner Zama completed a Decentralized Key Generation (DKG) ceremony for its mainnet, advancing infrastructure for the Zama Confidential Blockchain. For traders: rising open interest alongside muted price movement suggests new leveraged positions are being opened without a decisive directional break. This increases the potential for leverage-driven volatility or a short-term breakout if open interest and volume continue to climb. Key watch points: OI growth, derivatives funding rates, volume spikes, and any catalyst from Zama’s mainnet progress.
Neutral
The news is neutral for SHIB price outlook. Rising open interest (OI) alongside a modest price gain indicates renewed participation and higher leverage exposure, which can fuel short-term volatility or a breakout if volume and OI continue to climb. However, price remains range-bound and weekly performance is negative, suggesting no confirmed directional conviction yet. Holiday-thinned liquidity, noted by 10x Research, increases the risk of exaggerated moves on low volumes. The Zama DKG progress is a positive infrastructure development but is not an immediate price catalyst. Short-term impact: elevated probability of leveraged-driven spikes and breakout attempts — traders should monitor funding rates, OI, and volume for entry/exit timing. Long-term impact: infrastructure progress may support fundamentals if it leads to increased utility or adoption, but absent broader demand drivers the price effect is likely limited. Overall, factors balance out to a neutral near-term outlook with asymmetric risk for sharp moves.