Shiba Inu is Bitcoin and $XRP Traders have expressed more optimism over the past 24 hours, and futures activity has also slowed.
Despite the recent market rally slowing down, Shiba Inu shows that the previous day’s open interest is still explosively increasing.
However, Bitcoin and $XRP has shown only a slight increase in futures trading, with open interest rates registering an increase of around 1-3%.
11.75 trillion $SHIB bet
While the broader market resurgence continues to fuel Shiba Inu, investor confidence in meme tokens is growing stronger.
Tuesday, April 21st data Coinglass research shows the index gradually returning to the high levels seen this year, with Shiba Inu’s open interest increasing by a significant 20.92%.
In response to this explosive increase in open interest, $SHIB Over 11.75 trillion tokens currently committed in active futures contracts $SHIB Valued at over $70 million each $SHIBTrading prices are as of the time of writing.
While the jump drew the attention of market watchers, it sparked optimism as the index hovered just around the $9 trillion mark. $SHIB Over the weekend.
With Shiba Inu’s open interest increasing so significantly, some speculate that the asset may still be gearing up for a big price break in the future.
Sybarium gets green light for ETF application
As the broader Shiba Inu ecosystem continues to receive attention, Shibarium Networks are also showing impressive growth and rapid adoption.
Following its increased usage, the team revealed that Shibarium was mentioned as part of the blockchain under review during an ETF application by T. Rowe Price.
