Shiba Inu (SHIB) has drawn intense attention from investors after an unexpected spike in futures market activity. Over $147 million worth of SHIB was committed to futures trades in the last 24 hours, pointing to a sharp shift in market sentiment.
According to CoinGlass data, a total of 11.46 trillion SHIB tokens were locked in futures positions. It is an improvement of 4.86 percent in open interest, indicating that more investors believe a rally of SHIB is likely.
Whales played a significant role in this development, as trading data revealed that 5.96 trillion SHIB moved across whale wallets within 48 hours. There were 3.36 trillion SHIBs bought and sold during the weekend, which increased the volume of the large transactions by 249 percent.
Gate.io became the most traded exchange that commandeered more than 50 percent of the volume of SHIB futures. The exchange contributed 56.9 percent of open interest, with 6.09 trillion SHIB valued at 83.80 million dollars. Bitget and OKX came next, each with $ 25.18 million and 12.55 million worth of SHIB futures, respectively.
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Large-Scale Exchange Activity and Whale Moves Signal Market Confidence
These movements suggest that major holders and institutional traders may be positioning themselves ahead of a possible breakout. SHIB’s price reacted accordingly, recording a 1.67 percent gain and rising to $0.00001214. The increase broke through the previously stiff resistance at the $0.0000120 level.
Additionally, SHIB’s trading volume rose by 6.28 percent, reaching $109.27 million, reflecting growing market participation. The fresh action will also go in line with the calls made by the heads of the SHIB community, encouraging holders to assist in continued burn efforts on Shibarium.
Lucie, a marketing official with the Shiba Inu team, has recently reminded the community about the burn portal, which will enable users to feed the SHIB deflationary scheme. The decision has the potential to assist price movements when embraced.
Rising interest in SHIB futures, coupled with increased whale activity, reflects a strengthening bullish outlook for the token. The days ahead are crucial, given the investors’ response to ascertain whether SHIB is on the breakout.
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