Shiba Inu Price Surges Over 10%, But Traders Remain Cautious

Shiba Inu (SHIB) experienced a significant price surge of over 10% in recent market activity, driven by renewed interest and attention from traders and investors.

The token's price recovery is attributed to several factors, including a new US exchange listing and substantial token withdrawals from exchanges, which suggest reduced near-term selling pressure.

However, despite these positive signs, derivatives traders remain cautious, with declining open interest in SHIB futures indicating limited leveraged bets.

The token's recovery ultimately depends on sustained buying demand and stronger market momentum to confirm a lasting rally.