Markets· ★★· bearish·

Shiba Inu Risks Losing $50 Million Open Interest Threshold

  • —SHIB open interest sits at $37.3 million versus the $50 million threshold
  • —24-hour futures volume is $49.3 million while spot volume is just $10.8 million
  • —Liquidations over 24 hours reached $20 million, with longs losing $12.9 million
  • —Key support is $0.00000476, with resistance at $0.00000520
Why it matters: Falling open interest and thin spot demand point to further downside toward $0.00000450 if support gives way.
#SHIB
Source: U.Today
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