SHIB futures open interest holds above $62 million amid long liquidations
- —SHIB futures open interest at $62.25 million, daily volume at $54.42 million
- —Futures turnover is 2.7 times higher than spot ($19.99 million)
- —24-hour liquidations: $182,650, of which $162,740 were longs
- —249.4 billion SHIB withdrawn from exchanges, daily burn up 716%
Why it matters: High open interest amid falling volume raises the risk of sharp liquidations on price moves.
Source: The Crypto Basic