Shiba Inu Open Interest Surges 13% as Price Gains Signal Rising Derivatives Demand

Shiba Inu is attracting fresh attention as traders expand exposure during a broader market recovery. The meme coin is showing renewed strength after months of decline. Derivatives activity is rising alongside price movement. Market participants are positioning for continued upside as momentum builds.

SHIB Open Interest Growth Outpaces Bitcoin and XRP

Market data shows that Shiba Inu is leading in derivatives growth compared to larger assets. SHIB open interest surged 13.45% in 24 hours, reaching $69.79 million. This growth reflects an 11 trillion SHIB bet placed by traders. The increase highlights rising speculative interest as price action strengthens.

At the time of writing, the SHIB price has gained nearly 3%, trading at $0.000006231 over 24 hours. This puts it on track for a third consecutive daily increase. Traders are increasingly leveraging positions to capture short-term gains. In contrast, Bitcoin open interest rose 5% to $59.6 billion. XRP recorded a smaller 1.28% increase to $2.64 billion.

The move suggests a shift toward lower-cap altcoins as capital rotates. These assets often deliver stronger moves during bullish phases. Futures flow supports this trend, with inflows reaching $8.31 million. Outflows stood at $8.02 million, creating a net positive difference of over $284,980. This resulted in new positions worth 46 billion SHIB.

Trading activity has increased alongside open interest and price. Data shows a 14.5% rise in SHIB trading volume to $101.1 million. Futures volume surged 98% to $208 million, while spot volume climbed 94% to $19.37 million. This sharp increase reflects growing market participation.

However, volume breakdown reveals mixed sentiment. Spot taker buy volume stands at 51.68%, indicating a mild bullish bias. Meanwhile, futures data shows stronger bearish positioning. Taker sell volume dominates at 69%, compared to 30.9% for buys. This suggests that many traders are opening short positions.

Technical Support Holds as Momentum Indicators Turn Positive

On the technical side, SHIB has established support at the 50-day simple moving average of $0.00000589. Price broke above this level on April 15 and successfully retested it. It closed above the indicator, confirming support strength. This move helped sustain the current upward push.

Momentum indicators also support a gradual shift. The relative strength index sits at 55, leaving room for further upside. The MACD indicator has turned positive, with the MACD line crossing above the signal line. This crossover reinforces growing bullish momentum.

Current projections suggest SHIB could target a rally exceeding 100%. The token aims to reclaim the $0.000010 psychological level. This outlook follows a confirmed channel breakout and successful retest on the daily chart.