Well now, it appears that our furry friend, the Shiba Inu, has found itself in a bit of a pickle, having seen its open interest tumble down by over 8% faster than a cat can leap out of a bath. This sudden change in the hearts and minds of investors has left the market feeling as bearish as a hibernating bear in winter.
As momentum continues to slacken like a lazy dog on a sunny day, the SHIB trading price took a nosedive earlier today, dragging along its derivatives market like a reluctant child being dragged to school. Futures traders, in a fit of apparent wisdom, are closing their active positions quicker than a gambler at a busted poker table.
On the fine day of Saturday, Feb. 28, CoinGlass reported a rather startling decline of 8.59% in the Shiba Inu open interest within the span of 24 hours, which is about as surprising as finding a fish swimming in water.
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To add a cherry on top of this dismal sundae, around 10.59 trillion SHIB tokens have been thrown into the futures market, marking a significant downturn as sell pressure mounts like laundry piling up on a Sunday afternoon.
Shiba Inu price flips negative-like a pancake gone wrong!
Despite the jubilation one might expect from a broad crypto market breakout, Shiba Inu has turned negative quicker than a politician’s promise, with its price showing a notable decline over the last day.
With a turn of events that could make even the most stoic of stoics raise an eyebrow, the negative trend in the SHIB derivatives market has extended its gloomy shadow to its trading price, which has dipped by 5.28% over the last 24 hours. As of this very moment, the asset is trading at a measly $0.000005536, according to the fine folks over at CoinMarketCap.
And if that wasn’t enough to tickle your funny bone, crypto futures bets worth over $503 million have been liquidated in the last 24 hours-quite the spectacle! That’s an astonishing 84% increase over the period, with about $362 million having been suffered by long traders who thought they were riding a wave only to find themselves flailing in the shallow end.
Yet, amidst this chaos, the traders on Coinbase seem to be less than enthusiastic, as the specter of looming U.S. tensions has cooled their optimism faster than ice cream on a hot day. Only 15.46 million SHIB have been staked on the Shiba Inu futures market on Coinbase, which is about as exciting as watching paint dry.
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2026-03-01 03:17