11,000,000,000,000 Shiba Inu In 24 Hours, What'S Happening?

Shiba Inu (SHIB) has seen a notable surge in derivatives activity, with over 11.27 trillion SHIB worth approximately $90.36 million committed in open interest over the past 24 hours, reflecting a 3.94% increase. This signals renewed bullish sentiment as traders anticipate a rebound in the meme coin's price, which rose from $0.000007755 to an intraday high of $0.000008105.

Gate exchange leads with 44% of SHIB’s total open interest, followed by OKX, LBank, and MEXC. Trading volume also increased by 9% to $89.68 million, suggesting growing investor optimism ahead of February, a historically strong month for SHIB. The asset’s rivalry with Dogecoin further fuels speculation as investors monitor the market closely in the lead-up to potential gains.