Shiba Inu reached yet another low of $0.0000054 on Monday and is down nearly 67% over the past year. The relentless downturn with no price rebound in sight has made traders stay away from the meme currency. SHIB is not what it was four years ago, with buying activity and social media frenzy hitting a peak. The dog-themed token is barely spoken about in the market anymore, with other cryptocurrencies taking the limelight. This is starkly opposite to Ripple’s native token, where XRP’s Futures open interest is on the rise, reaching $2.78 billion, despite its price falling to the $1 level.
Also Read: Is Shiba Inu Over? Price Crash Deepens, SHIB Falls 9% in 7 Days
Shiba Inu: 8 Out of 10 Crypto Exchanges See Major Decline in Futures Open Interest
According to the latest derivatives data from TradingView highlighting Shiba Inu’s activity, 8 out of 10 cryptocurrency exchanges have seen a decline in Shiba Inu’s Futures open interest. Positions are being closed more quickly than they are being opened during the same timeframe. The scenario emerged in 2024, but gained further steam in 2025, well into 2026. The situation could worsen further, as SHIB is barely experiencing a price uptick this year.
The declining pattern is similar on all cryptocurrency exchanges. The Futures open interest in Shiba Inu has fallen 11.31% on KuCoin, 4.08% on MEXC, 3.37% on OKX, 2.12% on Bitget, and 2.02% on Gate. In addition, SHIB derivatives volume decreased by nearly 70% on KuCoin, by 41% on Bitget, and by roughly 34% on MEXC. Even the volume in dYdX, LBank, and WhiteBIT also saw a decline.
This is a dangerous precedent for Shiba Inu, as a decline in Futures open interest indicates that the meme currency is deeply entrenched in the bear market. An uptick from here is not easy, as convincing the majority of traders to begin taking entry positions at a time when the AI sector is generating meteoric gains is a herculean task in itself. The road ahead for SHIB is narrow, bumpy, dusty, and filled with derailment.
Credit: Source link