{"id":563779,"date":"2023-12-04T20:00:41","date_gmt":"2023-12-04T20:00:41","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=563779"},"modified":"2024-06-11T08:04:13","modified_gmt":"2024-06-11T08:04:13","slug":"shiba-inu-open-interest-price","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/shiba-inu-coin\/shiba-inu-open-interest-price\/","title":{"rendered":"Shiba Inu Open Interest Falls Behind General Crypto Market, What This Means For Price"},"content":{"rendered":"

The entire crypto market has seen a steady increase in open interest (OI) over the last few months. But the Shiba Inu open interest seems to not have followed this trend as much as others. While there has been a huge jump in the open interest of the largest cryptocurrencies in the industry, Shiba Inu\u2019s rise<\/a> has remained relatively muted, with implications for the altcoin\u2019s price<\/a>.<\/p>\n

Shiba Inu Open Interest Trajectory<\/h2>\n

The Shiba Inu open interest initially started pumping back in August when the current bull run began. However, in the following months, the open interest has been considerably lower, happening at a time when open interest across other top cryptocurrencies is seeing large spikes.<\/p>\n

Related Reading: Crypto Analyst Predicts Bitcoin 400% Surge To $200,000, Here\u2019s When<\/a><\/div>\n

Shiba Inu\u2019s open interest crossed $43 million back in August but has had a hard time returning to this level, data<\/a> from Coinglass shows. The open interest has since dropped and continues to range just below the $20 million level. Now, while this is not out of character for the altcoin<\/a>, it is a deviation when it comes to following Bitcoin\u2019s trends.<\/p>\n

Dogecoin, SHIB\u2019s foremost competitor, has followed the trajectory of Bitcoin, with the open interest<\/a> staying low through the months of October and then exploding in the month of November. To put this in perspective, the Dogecoin open interest<\/a> dropped as low as $226 million in October before exploding as high as $520 million in November.<\/p>\n

However, the Shiba Inu open interest has struggled, maintaining a low peak of $17 million in November with a small rise to $18 million in December. This is in stark contrast to the open interest of Bitcoin<\/a> and Dogecoin which have seen a flurry of activities as prices have recovered.<\/p>\n

\"Shiba<\/p>\n

SHIB price shows more volatility | Source: SHIBUSD on Tradingview.com<\/a><\/pre>\n
SHIB OI Deviates From Price<\/h2>\n
Another way that Shiba Inu has deviated from the rest of the crypto market is the fact that the price does not move directly proportional to the open interest. While the likes of Bitcoin<\/a> and Dogecoin<\/a> have shown prices moving upward as open interest has soared, SHIB\u2019s price has remained fairly high while the open interest has remained fairly low.<\/p>\n
Related Reading: The Big Move: Crypto Pundit Predicts When Bitcoin Will Reach A New ATH<\/a><\/div>\n
This suggests that a rise in open interest is not actually one of the major factors pushing the SHIB price<\/a>. So unlike others, a crash in open interest will likely not translate into a crash in price. However, Shiba Inu continues to trail the Bitcoin recovery closely, so a decline in the BTC price<\/a> could sorely affect the SHIB price.<\/p>\n
Featured image from Fast Company, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The entire crypto market has seen a steady increase in open interest (OI) over the last few months. But the Shiba Inu open interest seems to not have followed this trend as much as others. While there has been a huge jump in the open interest of the largest cryptocurrencies in the industry, Shiba Inu\u2019s rise has remained relatively muted, with implications for the altcoin\u2019s price. Shiba Inu Open Interest Trajectory The Shiba Inu open interest initially started pumping back in August when the current bull run began. However, in the following months, the open interest has been considerably lower, happening at a time when open interest across other top cryptocurrencies is seeing large spikes. Related Reading: Crypto Analyst Predicts Bitcoin 400% Surge To $200,000, Here\u2019s When Shiba Inu\u2019s open interest crossed $43 million back in August but has had a hard time returning to this level, data from Coinglass shows. The open interest has since dropped and continues to range just below the $20 million level. Now, while this is not out of character for the altcoin, it is a deviation when it comes to following Bitcoin\u2019s trends. Dogecoin, SHIB\u2019s foremost competitor, has followed the trajectory of Bitcoin, with the open interest staying low through the months of October and then exploding in the month of November. To put this in perspective, the Dogecoin open interest dropped as low as $226 million in October before exploding as high as $520 million in November. However, the Shiba Inu open interest has struggled, maintaining a low peak of $17 million in November with a small rise to $18 million in December. This is in stark contrast to the open interest of Bitcoin and Dogecoin which have seen a flurry of activities as prices have recovered. SHIB price shows more volatility | Source: SHIBUSD on Tradingview.com SHIB OI Deviates From Price Another way that Shiba Inu has deviated from the rest of the crypto market is the fact that the price does not move directly proportional to the open interest. While the likes of Bitcoin and Dogecoin have shown prices moving upward as open interest has soared, SHIB\u2019s price has remained fairly high while the open interest has remained fairly low. Related Reading: The Big Move: Crypto Pundit Predicts When Bitcoin Will Reach A New ATH This suggests that a rise in open interest is not actually one of the major factors pushing the SHIB price. So unlike others, a crash in open interest will likely not translate into a crash in price. However, Shiba Inu continues to trail the Bitcoin recovery closely, so a decline in the BTC price could sorely affect the SHIB price. Featured image from Fast Company, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":563799,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[83668,89178,84473,83667,89157,90743,84562,84558],"class_list":["post-563779","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-shib","tag-shib-news","tag-shib-price","tag-shiba-inu","tag-shiba-inu-news","tag-shiba-inu-open-interest","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\nShiba Inu Open Interest Falls Behind General Crypto Market, What This Means For Price<\/title>\n<meta name=\"description\" content=\"The entire crypto market has seen a steady increase in open interest (OI) over the last few months, but not Shiba Inu.\" \/>\n<meta name=\"robots\" content=\"index, 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/shenyangcang.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shiba Inu Open Interest Falls Behind General Crypto Market, What This Means For Price","url":"http:\/\/shenyangcang.com\/news\/shiba-inu-coin\/shiba-inu-open-interest-price\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/shenyangcang.com\/news\/shiba-inu-coin\/shiba-inu-open-interest-price\/"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/12\/Shiba-Inu-SHIB-open-interest.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/12\/Shiba-Inu-SHIB-open-interest.jpeg?fit=1280%2C720"},"articleSection":"Shiba Inu Coin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["shib","shib news","shib price","shiba inu","shiba inu news","shiba inu open interest","shibusd","shibusdt"],"dateCreated":"2023-12-04T20:00:41Z","datePublished":"2023-12-04T20:00:41Z","dateModified":"2024-06-11T08:04:13Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu Open Interest Falls Behind General Crypto Market, What This Means For Price\",\"url\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-open-interest-price\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-open-interest-price\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Shiba-Inu-SHIB-open-interest.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Shiba-Inu-SHIB-open-interest.jpeg?fit=1280%2C720\"},\"articleSection\":\"Shiba Inu Coin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"shib\",\"shib news\",\"shib price\",\"shiba inu\",\"shiba inu news\",\"shiba inu open interest\",\"shibusd\",\"shibusdt\"],\"dateCreated\":\"2023-12-04T20:00:41Z\",\"datePublished\":\"2023-12-04T20:00:41Z\",\"dateModified\":\"2024-06-11T08:04:13Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/12\/Shiba-Inu-SHIB-open-interest.jpeg?fit=1280%2C720","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/563779"}],"collection":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/comments?post=563779"}],"version-history":[{"count":0,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/563779\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media\/563799"}],"wp:attachment":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media?parent=563779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/categories?post=563779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/tags?post=563779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}