Shiba Inu Sees Surge in Derivative Activity
- Derivative Interest Surge: Shiba Inu's open interest in futures rose by 9.29% over the past 24 hours to $57.33 million, covering 9.08 trillion SHIB tokens, surpassing Monday's high of $54.22 million, indicating bullish sentiment among investors.
- Strong Inflows: Futures inflows totaled $11.52 million, exceeding outflows of $10.55 million, resulting in a net inflow of $973,700, suggesting that approximately 159.3 billion SHIB in new futures contracts were created, typically leading to upward price movements.
- Significant Price Rally: Shiba Inu's price increased over 4% in 24 hours, reclaiming the $0.0000060 level and moving above its 50-day moving average, signaling bullish momentum, while liquidations reached $103,060, reflecting market directional adjustments.
- Spot Holders Pressure: Despite optimistic futures data, spot holders added selling pressure during the price rally, with Shiba Inu inflows to exchanges reaching $7.89 million, slightly exceeding outflows of $7.37 million, indicating holders are moving tokens to platforms for easier selling.
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Technical Analysis for SHIB
Technical Sentiment Analysis for Shiba Inu (SHIB). As of , Shiba Inu (SHIB) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 2 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SHIB stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SHIB is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Shiba Inu (SHIB) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000535 | 0.00000556 | 0.00000576 | 0.00000597 | 0.00000617 | 0.00000638 | 0.00000658 |
| Fibonacci | 0.00000556 | 0.00000571 | 0.00000581 | 0.00000597 | 0.00000612 | 0.00000622 | 0.00000638 |
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