The recent encryption market dynamics show that the momentum fades, with the presence of the main cryptocurrency currencies high fluctuations.
Shiba Inu (SHIB) has not been left from this negative trend, as it is the latest Data From Coinglass indicates that the open interest in Shiba Inu has decreased dramatically by 24.59 % in just one day.
Sheba Eno cools
While the encryption market is still uncertain, it has raised concerns and doubts between the market participants, as the activity on the series reflects the increasing negative feelings. As a result, Shiba Inu is seen back to the red area.
According to the data provided, the famous Meme Code, the title of Dogs, has scored 12.25 trillion graying in the total open futures authority-another level that he witnessed about three weeks ago. While this deserves about $ 172.61 million, it represents a significant decrease from the levels that were observed in the previous 24 hours.
This means that the total amount of the money invested in the derivatives of Shiba Eno during the past day decreased significantly, indicating a decrease in optimism and benefits between investors.
A 24.59 % huge decrease, this sharp decrease in open Shib’s open interest indicates a noticeable transformation in market morale, accompanied by significant cooling in the trading enthusiasm.
This scale is closely monitored by investors because it is a major indication of the potential performance of the cryptocurrency.
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It is worth noting that the open benefit of Shayb represents the total value of all future futures open to the leading MIM currency. The decrease in the open interest signals of the distinctive symbol rejects the investor’s confidence in the momentum in the short term of the original.
The negative trend was also reflected in the distinctive symbol price. Data from CoinMarketCap shows that SHIBA Inu has decreased by 6.63 % in the past 24 hours. As of the time of the press, it is circulated at $ 0.00001313.
The SHIB’s open interest does not come as a surprise, amid the broader uncertainty in the Crypto Global Market, with Bitcoin and all the pioneers facing the great decline.
Looking at the strong SHIB community and the developments of the consistent ecosystems, this measure raised anxiety among investors. They are concerned that the potential bear stage may reveal the ecosystems of gray hair if the direction is not reflected, which may put its holders in great losses.
