Shiba Inu futures volume surpasses $50M as derivatives traders boost positions
In brief
- SHIB futures volume surpassed $50 million across exchanges, OKX recording $52.27 million
- Token recovered from $0.0000045 to briefly exceed $0.0000060 before cooling
- Long-term moving average near $0.00000573 remains key resistance level
- RSI cooled to roughly 63 after briefly entering overbought territory
Exchange volume breakdown
OKX is by far the largest individual contributor, with about $52.27 million in SHIB futures volume. LBank recorded $22.42 million, MEXC recorded $12.66 million, and Bitget records $10.97 million. Together, these four exchanges account for nearly $98 million in SHIB derivatives volume. This concentration of trading activity shows that derivatives traders are still heavily involved despite the recent cooldown in spot price momentum.
Technical resistance levels
The token is still above its shorter-term moving averages at roughly $0.00000462–$0.00000495. However, the long-term moving average close to $0.00000573 continues to be a direct barrier. SHIB managed to push through this level for a brief period but was unable to maintain a position above it.
After momentarily entering overbought territory, the RSI has cooled to about 63.
What's next
The next big test is located between $0.0000057 and $0.0000060. A daily close above this range might expose the $0.0000062–$0.0000065 area. On the downside, SHIB would be at risk of another retracement toward $0.0000050 if it fails to recover above the near-term resistance zone.
It's worth noting that futures volume by itself cannot determine whether traders are primarily bearish or bullish. Increasing volume mainly indicates increased speculation and participation — not necessarily directional conviction.
