One of the most popular memes cryptocurrency, Shiba Inu (Shib), is the focus of attention after the material increase in derivatives.
Latest data From Coinglass, the Shibi futures open interest has increased to $ 220 million, the highest level of the last 30 days.
Open interest is the total value of open futures contracts for all assets. Usually, open interest rates increased investors' confidence in the short -term price of property.
Coinglass shows a gradual increase in Shib's open interest from late April and a significant breakthrough over the last 48 hours. This growth coincides with a modest rally
It also suggests that speculators expect a significant price movement and open up amplified positions to take advantage of the potential swing.
The history of its memory-based community and sharp price changes has long been considered to be a high-risk and high-profit asset.
Most Shib investors break evenly
Meanwhile the latest chain data from Intotheblock exhibitions That more than half of the symbolic owners are currently in Breaken. This data also provides an overview of the overall profitability of the Shib owners.
According to the data, only 18.49% of the SHIB addresses, with 182.19 trillion Shibi, currently in “money” (or profits), which means that the current price is higher than their average purchase price.
27.93% of the SHIB addresses with 275.19 trillion shib chips, are at a loss or “out of money”.
