{"id":23088,"date":"2026-03-03T15:07:34","date_gmt":"2026-03-03T15:07:34","guid":{"rendered":"https:\/\/bitunikey.com\/news\/shiba-inu-coin-price-prediction-as-open-interest-surge-5-in-24-hours\/"},"modified":"2026-03-03T15:07:41","modified_gmt":"2026-03-03T15:07:41","slug":"shiba-inu-coin-price-prediction-as-open-interest-surge-5-in-24-hours","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/shiba-inu-coin-price-prediction-as-open-interest-surge-5-in-24-hours\/","title":{"rendered":"Shiba Inu Coin price prediction as open interest surge 5% in 24 Hours"},"content":{"rendered":"
\n

Shiba Inu Coin price retreated for six consecutive days even as its futures open interest rebounded.\u00a0<\/p>\n

\n
\n Summary<\/span>\n <\/div>\n
\n
    \n
  • Shiba Inu Coin price continued its downtrend on Tuesday, March 3.<\/li>\n
  • Futures open interest jumped to over $63 million.<\/li>\n
  • However, the weighted funding rate plunged to December lows.<\/li>\n<\/ul><\/div>\n<\/div>\n

    <\/p>\n

    Shiba Inu (SHIB) token slumped to $0.0000054, continuing a strong downward trend that has been going on since November 2024 when it peaked at $0.00003345. It has now slumped by over 83%, a move that has erased billions of dollars in value.<\/p>\n

    Shiba Inu continued dropping this week, even as its futures open interest rose. CoinGlass data shows that the open interest rose to $65, its highest level since February 25. The increase was much higher than the previous day\u2019s $53 million.\u00a0<\/p>\n

    Open interest is a number that looks at the value of open futures contracts in the market. A high interest, especially when an asset is riing is usually a bullish sign. On the other hand, an increase during a downtrend is a sign that investors are opening bearish bets.<\/p>\n

    While the open interest has jumped, the weighted funding rate tumbled to its lowest level since December last year. Falling funding rate is a figure that looks at the small fee that bulls and bears pay to maintain their positions. A negative figure is a sign that investors anticipate the price to continue falling in the future.\u00a0<\/p>\n

    SHIB funding rate | Source: CoinGlass<\/figcaption><\/figure>\n

    Shiba Inu is facing major headwinds as demand for meme coins wanes. Most of them, including popular names like Dogecoin, Bonk, and Pepe, have all slumped by over 50% in the last few months.\u00a0<\/p>\n

    <\/p>\n

    Macro factors are contributing, with the ongoing war in Iran raising the possibility that inflation will continue rising this year. As a result, there is a possibility that the Fed will not cut rates as aggressively as analysts expected.<\/p>\n

    Shiba Inu Coin price technical analysis\u00a0<\/h2>\n
    \"Shiba<\/figure>\n

    Shiba Inu price chart | Source: crypto.news<\/p>\n

    SHIB token has slumped in the past two years, with dip buyers remaining elusive. Consequently, it has formed a series of lower lows and lower highs. The 50-day moving average has provided it with dynamic resistance. These indicators point to more downside.\u00a0<\/p>\n

    However, there are signs that the sell-off is losing momentum as the Average Directional Index has tumbled. Also, the coin has formed a large falling wedge pattern.\u00a0<\/p>\n

    Therefore, the coin will likely have a relief rally in the coming days and weeks, with the initial target being the psychological level at $0.0000010.<\/p>\n

    <\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

    Shiba Inu Coin price retreated for six consecutive days even as its futures open interest rebounded.\u00a0 Summary Shiba Inu Coin price continued its downtrend on Tuesday, March 3. Futures open…<\/p>\n","protected":false},"author":1,"featured_media":8195,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-23088","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/23088","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=23088"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/23088\/revisions"}],"predecessor-version":[{"id":23089,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/23088\/revisions\/23089"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/8195"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=23088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=23088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=23088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}