Shiba Inu open interest has seen a drop as the market saw mixed trading in the early Friday session.
According to CoinGlass data, Shiba Inu open interest fell 5.53% in the last 24 hours to $58.72 million.
Following a sharp rise to $0.00000653 on Feb. 25, the Shiba Inu price retreated. At the time of writing, Shiba Inu was down 2.79% in the last 24 hours to $0.000006 as the broader crypto market headed into Friday on the back foot.
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Most major tokens posted losses over the last 24 hours as traders continued to de-risk alongside equities following Nvidia’s earnings-driven pullback.
An unexpected rally earlier in the week had raised optimism among investors that the digital asset market was reaching a bottom following a more than four-month slide. However, this reversed, with Shiba Inu open interest falling as a result.
Investors are looking ahead to the January reading of the producer price index on Friday, set to be released by the Bureau of Labor Statistics in the morning. Economists are expecting a gain of 0.3% for both headline and core, which excludes food and energy.
The next resistance targets for Shiba Inu lie at $0.00000733 and $0.00000968. Support lies at $0.00000590 ahead of $0.00000575.
The broader crypto market recovery will be watched with respect to the Shiba Inu price rebound; analysts believe digital assets are more likely to move with broader risk sentiment rather than on purely crypto specific catalysts.
Shiba Inu roadmap
Shiba Inu SOU went live on Feb. 17 as part of efforts to restore users impacted by the Shibarium hack incident last September. The initiative will support impacted Shibarium users with payouts, donations and occasional rewards.
In the “Shib owes you” system, every affected Shibarium user has an SOU NFT, which is an on-chain, verifiable record of exactly what the Shiba Inu ecosystem owes them.
Following the compromise of validator keys, a full overhaul of the proof-of-stake node structure is underway. The objective is to transition from a centralized validator model to a more distributed, community governed validator set.
Shibarium’s privacy upgrade is scheduled for Q2, 2026, and will represent a key technical milestone for the layer-2 blockchain.
Source: https://u.today/shiba-inu-open-interest-drops-to-59-million-as-price-tests-support-at-0000006
