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SHIB 复苏测试关键衍生品水平

2026-09-27 15:16:25
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The rebound in SHIB continues to be a market theme, with active derivatives activity

As the price of SHIB is trading around $0.000058, its recovery continues to dominate market sentiment, and derivatives activity on major exchanges remains high. Although the impact of July's sharp liquidations has faded, September's activity shows leveraged traders are still actively operating in multiple major trading venues. Data shows that MEXC leads in Open Interest, OKX leads in trading volume, and LBank records the highest number of futures transactions among the listed exchanges.



The July liquidation event sets the background for the derivatives market

The largest liquidation event recorded in the perpetual contract chart occurred between July 23 and 26. The red bar chart expanded sharply, indicating that a large number of short positions were forcibly liquidated during the period. The green bar chart that appears at the same time also shows that as volatility increases, long traders are also facing forced liquidation pressure.

After this incident, the liquidation histogram in August and September narrowed significantly. However, there were several isolated price spikes between August 20 and 24 and the subsequent September. These fluctuations suggest that although overall clearing activity has leveled off, leveraged positions have not stopped.

从图表中可见,SHIB 价格在经历 7 月的疲软后开始回升。尽管 8 月下旬至 9 月的价格走势更加稳健,但波动仍然频繁。因此,该图表呈现出一种在衍生品驱动下伴随波动的复苏态势。

截至撰文时,根据 CoinMarketCap 数据,SHIB 价格约为 $0.0000058。这一水平远低于 2021 年加密货币市场周期中创下的历史高点。与纪录高点的距离为相关图形所呈现的看涨回归叙事提供了背景参照。



交易所数据显示广泛的衍生品参与

MEXC 目前记录的 SHIB 未平仓合约量最高,达 2125 万美元。Bitget 紧随其后,为 1174 万美元,LBank 持有 1059 万美元。OKX 和 Gate 也报告了可观的未平仓合约量,分别为 752 万美元和 687 万美元。


分布情况显示,杠杆敞口分散在多个交易场所。在所显示的图表中,MEXC 占据了最大的持仓基础。与此同时,其他几个平台也维持着数百万美元的未平仓合约规模。

交易量数据为所列场所的市场图景增添了另一层维度。OKX 以 1268 万美元的交易量领先,LBank 以 1232 万美元紧随其后。WhiteBIT 录得 696 万美元,而 MEXC 和 Bitget 分别报告 582 万美元和 527 万美元。

同一组交易所的期货交易次数也保持活跃。LBank 以 6.16 万笔交易领先,OKX 以 6.028 万笔交易位居第二。Bitunix 记录 3.522 万笔,Gate 和 WhiteBIT 也显示出显著的活动量。



牛市叙事与衍生品数据的交汇

社交媒体账号“SHIBMortal”将 SHIB 围绕其可能未来重返历史高点的可能性进行了框架化解读。该帖子认为,如果新一轮牛市出现,投资者可能会因错过当前价格而后悔。其信息重点在于长期的市场预期,而非特定的交易时间框架。

配图中巨大的金属公牛和上升箭头强化了这一信息。“SHIB Comeback”(SHIB 回归)和“The Bull Is Waking Up”(牛市正在苏醒)的字样清晰地传达了复苏叙事。然而,该图形并未提供技术点位、指标或明确的价格目标。

历史最高价是该看涨情景的核心参考点。达到这一水平需要持续的需求和重新激活的市场参与度。目前的衍生品图表并未表明这种运动已经开始。

相反,现有数据显示市场正处于复苏与活跃杠杆交易的平衡之中。清算强度已从 7 月的极端水平缓和,而交易所活动依然 substantial(可观)。这使得衍生品仓位管理成为 SHIB 当前市场结构的重要特征。

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