SHIB Rally Crumbles as Futures Open Interest Plummets 25%

SHIB futures open interest dropped 25% within 24 hours as the cryptocurrency's sharp price surge fueled initial optimism but quickly reversed into a bearish trend, cooling both spot and derivative markets. According to blockchain media Today, open interest fell sharply, with traders reducing exposure after market sentiment shifted, leading to a 7% price decline. The rapid reversal highlights declining short-term buying momentum and raises questions about the sustainability of recent gains.