Shiba Inu Experiences Spike in Open Interest ✅️

Prices Ready to Rise ⁉️

$SHIB recently witnessed a significant increase in its open interest, which has again sparked enthusiasm among investors. Although open interest has not currently surpassed the all-time high reached in March 2024, this bullish trend shows potential for improvement in the near future.

Open Interest #Shibalnu Reaches February Level

Based on the NewsBTC report, as of Thursday (6/6/2024), SHIB's total open interest has soared above US$97 million on various exchanges.

According to data from Coinglass, open interest in this meme crypto reached US$97.08 million, one of the highest levels recorded this year. This increase is noteworthy considering the difficulties faced in recent months.

In March , open interest $SHIB reached a record high of almost US$136 million. However, this number has dropped drastically. This decline has raised concerns among investors. Open interest began to recover in June, increasing significantly. From its low point in March to the current figure in June, SHIB open interest has nearly doubled, indicating a substantial surge in interest from investors.

If open interest returns to its record high of US$136 million, it is likely that the SHIB price could reach US$0.00004 once again, marking a new annual record. In March, when open interest spiked, the price of SHIB could double, indicating a strong relationship between open interest and price performance.

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