On the Shiba Inu front, derivative market data revealed a remarkable change that points to the possibility of a short-term recovery. According to Coinglass data, while interest in SHIB futures increased in the last 24 hours, there was a significant increase in the amount of open positions.
Interest in futures increased again
According to data, Shiba Inu open position increased by 9.38% in the last 24 hours. With this increase, the total amount tied to active futures contracts increased to 8.63 trillion SHIB as of Saturday, May 6. The chart in question shows that investors are starting to take positions again as market volatility continues.
Mini dictionary: Open position refers to the total size of futures contracts that have not yet been closed. An increase in this data usually indicates that new money and new positions have entered the market, but it does not necessarily indicate that the direction is up.
Shiba Inu is known as a meme coin that stands out especially with its community support and has been followed for a long time in terms of market value. Although the latest data indicate that participation in the asset’s derivatives market has strengthened, it is not yet clear whether this movement will turn into a permanent price recovery.
Coinglass data shows that more than 8.6 trillion SHIB was positioned in futures in the last 24 hours, and open interest increased by 9.38%, reaching 8.63 trillion SHIB.
The cautious outlook on the price side continues
Despite this revival in the derivative market, the SHIB price remained under pressure in the same period. While the token price decreased by 1.07% in the last 24 hours, the weekly loss reached 17.87%. This divergence reveals that the investor appetite that supports the increasing interest in futures transactions is not reciprocated to the same extent in the spot market.
The simultaneous increase in open interest and price decrease suggests that investors are positioning more aggressively in anticipation of a strong price movement. However, the increased transaction density in such periods may be due to downward hedging transactions as well as upward expectations.
Market volatility remains decisive
While high volatility continues in the cryptocurrency market, recent data on SHIB has caused attention to be turned to this asset again in the short term. However, despite the positive signals from the derivative market, the fact that the price has not yet shown a clear recovery indicates that investors maintain their cautious stance.
For this reason, the increase in open positions is not viewed as a directional data on its own, but as an important indicator showing that activity and expectations in the market are rising. Whether the price will support this increased participation in the coming period may be one of the main determinants of the short-term course for SHIB.
