SHIB Slumps to New Lows as Futures Open Interest Plummets on Major Exchanges
Shiba Inu's struggles continue to worsen as it hit another low of $0.0000054 on Monday, down nearly 67% over the past year.
The once-meme currency has lost its appeal, with traders steering clear due to its relentless downturn and lack of price rebound.
According to derivatives data from TradingView, 8 out of 10 cryptocurrency exchanges have seen a decline in Shiba Inu's Futures open interest, with positions being closed more quickly than opened.
The scenario emerged in 2024 but gained further steam in 2025 and 2026, indicating that the meme currency is deeply entrenched in the bear market.
Furthermore, SHIB derivatives volume decreased by nearly 70% on KuCoin, by 41% on Bitget, and by roughly 34% on MEXC, while Futures open interest fell by 11.31% on KuCoin and 4.08% on MEXC.