Shiba Inu (SHIB) has experienced a significant drop in its spot price, leading to a notable decrease in trading volume within its derivatives market. The daily trading volume for SHIB currently stands at $35.43 million, the lowest since February. A decline in derivatives market activity typically indicates reduced speculative behavior, with traders being less inclined to take risks or speculate on future price movements. Despite the decrease in trading volume, there is still a demand for long positions, as evidenced by the positive funding rate across cryptocurrency exchanges. However, indicators such as the Average True Range (ATR) and Relative Strength Index (RSI) suggest a potential further decline in SHIB's price if selling pressure continues. It is important to conduct thorough research and seek professional advice before making any financial decisions in the volatile cryptocurrency market. Read more AI-generated news on: https://app.chaingpt.org/news