SHIB Price Dips Below $0.00000450 Amid Ongoing Correction

Shiba Inu's (SHIB) price has continued to decline, reaching nearly $0.00000450 on Wednesday. This marks a seventh consecutive day of losses and a drop of approximately 23% from its August high of $0.00000583.

The token also trades nearly 34% below its June peak of $0.00000671, indicating the depth of its correction.

Despite this decline, activity in SHIB's derivatives market has increased, suggesting that speculative traders remain interested in the token.

Rising open interest means traders are committing additional capital to SHIB futures, but this can also raise the risk of sharp volatility and leveraged liquidations.