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Following
SHIB SHIB fell for seven consecutive days, but open interest in futures rose sharply.
Although funding rates remained positive, indicating that traders remained bullish, spot prices were weak. SHIB needs stronger volume support and stands back at the $0.0000462 level to push the trend reversal.
Shiba Inu Coin (SHIB) extended its decline on Tuesday, with selling pressure continuing, marking its seventh consecutive trading day of decline. The current trading price of SHIB is approximately $0.0000450. However, behind the weak price performance, the derivatives market is taking on a different picture. Open interest in futures climbed sharply as retail traders increased their exposure. At the same time, positive funding rates also indicate that derivatives traders still hold bullish positions. The key question now is whether growing demand can overcome the bearish technical structure of SHIB.
Retail traders increase exposure to SHIB futures
Despite the overall market weakness, Shiba Inu's derivatives market has gained momentum. On Tuesday, open interest in futures reached 11.08 trillion SHIB, compared with 10.46 trillion SHIB the previous day. Current levels are almost double the July low of 6.05 trillion SHIB, indicating a significant increase in retail traders 'participation in the SHIB derivatives market. However, SHIB continued to struggle in the spot market in August. The token has fallen approximately 14% from $0.0000583 and is trading nearly 34% below its June high of $0.0000671. Rising futures exposure may help absorb some of the selling pressure, but traders need to be aware of whether new positions can translate into spot purchases.
Funding rates provide another positive signal for SHIB bulls. On Tuesday, the OI weighted funding rate reached 0.0082%, far exceeding the previous 0.0025%. Positive funding rates indicate that traders continue to prefer long positions, and continued positive readings may support stronger attempts at rebound. However, volume remains the main concern for bullish logic. Trading volume in SHIB on Tuesday was only US$50.2 million, an increase from US$31.7 million in the previous trading day, but still well below its recent peak. SHIB recorded volume of US$859.5 million on July 27, the highest level since June 2025.
SHIB technical structure remains bearish
On the daily chart, price movements continue to favor sellers. SHIB prices are trading below the 50-day, 100-day and 200-day exponential moving averages (EMA), which continue to strengthen the overall downward trend. The daily RSI also remains weak, close to the 45 level. A further decline may push the indicator into oversold territory.$ The 0.00000405 area is now an important downward support level. If this support level can be held firmly, buyers may try to push for a rebound. SHIB first needs to regain its position at $0.0000462 to improve its technical outlook, which coincides with the 78.6% Fibonacci retracement level. The 50-day EMA around $0.0000465 constitutes another direct resistance, and after a breakthrough, the 100-day EMA around $0.0000495 will become the next resistance level. Continued breakthroughs in these levels may strengthen bullish views.
Until then, sellers still control the overall trend. Rising futures exposure provides potential support for bulls, and positive funding rates also indicate that traders continue to build bullish positions. However, weak trading volume and falling prices remain major obstacles. SHIB needs stronger spot demand to produce a meaningful trend reversal.
