Shiba Inu Crash: 11% Open Interest Fell, Will It Bounce Back?!

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Shiba Inu just slipped down to a low that we remember from October ’23, basically all the fans are now hearing “wifi guy, what is this?” while the crypto space decides to go on a tear‑in‑tween downward spiral again.

In a perfect little tableau of market drama, $2.45 billion got liquidated in last 24 hours alone-after a weekend drop, because obviously the market doesn’t need a weekend break to make things trickle. Long positions did the violent dance, churning up $2.27 billion of forced sales, while shorts barely managed $180 million. That’s like putting all the cookies in the pot and letting a few leftovers decide the snack crisis.

What’s funny in this quagmire? Traders looking like they just popped their heads up from a nap, only to find that “breakout” turned into a full‑on “crash.” Their optimism seemed to be locked on a rebound that never materialized. Classic “let’s lay the satellite dish on a busted roof” vibe.

Open interest for SHIB fell 11%, a drop that’s somehow scarier than discovering your favorite pizza place just ran out of delivery. CoinGlass says open interest sits at a whiff of $75.74 million, with a 193% dip in futures flow-song and dance about how folks are finally learning to actually come to terms with risk capital in derivatives. Apparently the market’s volume took a nap over the weekend, which made selling a real breeze. Talk about last night’s stock-suddenly all the buyers are scared and the sellers, oh, they’re just doing a business jamboree.

SHIB price drops

There was a sharp slide over Saturday, slamming into a wobbly $0.00000617-a price you’ve probably seen the last time your dog tried to fetch a cheap cryptocurrency. That’s a four‑day drop, and let me tell you, the only thing that’s faster than a speed bump is the market’s slow‑roll of panic. The broadband kind of face‑palm.

Lucie, a helpful team member, tried to calm us by saying, “These crashes all follow the same script. Over‑leverage, panic, forced selling, repeat.” Pretty much saying that timing crypto is a myth that only the bravest dream of holding… But sure, let’s just chill out. “But we got this,” she added as if she was watching an episode of “Survivor” and expected to win the next challenge without a single plan.

Meanwhile, the liquidity walls are thinner than the line at the DMV, and risk appetite-well, it’s shaking like a pendulum that keeps losing the middle ground. This is probably an eloquent hint that a reset might be on its way.

The overall trend? Shiba Inu has taken a drop since its Jan. 5 high of $0.00001008, while RSI chatter suggests it’s reaching those oversold levels (down near 30). That usually means the market is whispering, “Hey, maybe it’s time to bounce back.” A relief rally could have its sights on $0.00000785, $0.00001008 again, and then $0.00001047. On the downside, if this Congress section of the world doesn’t make a fuss, support lies at $0.0000055-think of it as a weak fridge that keeps squeaking if you put too much in it.

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2026-02-01 20:13