Shiba Inu: 14 Trillion Tokens in 24 Hours, Market Goes Woof!

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It seems that the world of cryptocurrency has once again found itself in the delightful clutches of a charming canine-themed token, Shiba Inu, which has been barking up a storm of late. According to the latest on-chain data from Coinglass, the token has seen its open interest leap like a puppy at play, soaring by a whopping 15.14% in just one day. 🐾

In a single, dizzying 24-hour period, Shiba Inu traders have added a staggering 14.03 trillion SHIB tokens to the futures derivatives market, a move that suggests the token is not just wagging its tail but is also making a serious bid to become the top dog in the crypto world. 🚀

SHIB Open Interest Hits Multi-Week High

With the SHIB ecosystem basking in the glow of a seven-day upward trajectory, the token has managed to fetch a significant 20.07% price surge, much to the delight of its many admirers. The data reveals a sharp increase in SHIB’s open interest over the last 24 hours, reaching levels not seen since May 29, and marking a notable multi-week high. It’s as if the market has decided to throw a bone to Shiba Inu, with the current open interest standing at a substantial $204.87 million. 🦴

Following this surge in investor participation, Shiba Inu has also responded with a significant price increase, breaking past its key resistance level of $0.00001269. In the last 24 hours, SHIB has surged 6.54%, bringing its price to $0.00001343 as of press time, according to data from CoinMarketCap. It’s enough to make one wonder if the token is planning to take a bite out of the market. 🦴

With the massive open interest coinciding with a notable surge in SHIB’s price over the last days, it appears that holders are still optimistic for a continued upsurge in its market value, with hopes that the leading memecoin might remove another zero soon. It’s a dog-eat-dog world out there, and Shiba Inu seems to be leading the pack. 🐾

Gate.io Dominates SHIB Futures Derivatives Market

Per the data showcased by Coinglass, the largest portion of the Shiba Inu’s open interest capital, worth about $107.17M, was poured in by traders on the Gate.io exchange, accounting for 52.41% of the total open interest. Bitget and OKX traders followed on the second and third spot, accounting for 15% and 7.6%, respectively. It’s a veritable dog show of trading activity, with Gate.io taking the blue ribbon. 🏆

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2025-07-12 06:27