Key Insights
Shiba Inu remains below major daily moving averages, confirming its continued position in a broader downtrend.
The -131,522% futures imbalance stemmed from a small baseline, signaling sharp short-term outflows rather than a collapse.
Open interest continues to decline, reflecting reduced leverage and a retreat by short-term speculative traders.
Shiba Inu (SHIB) continues to trade under key moving averages, highlighting the ongoing dominance of sellers in the broader market structure. The asset remains in a sustained downtrend, with price action confirming a lack of upward momentum on the daily chart.
Despite the bearish backdrop, downward momentum has started to ease. The rate of price decline has slowed, and SHIB no longer experiences sharp cascades as seen during earlier sell-offs. Volatility has compressed, and the Relative Strength Index (RSI) remains near the lower range. This signals a stabilization phase rather than the beginning of a recovery.
Futures Flows Register Abnormal Imbalance
On the derivatives front, data showed a significant anomaly. A -131,522% imbalance appeared on the 15-minute Shiba Inu futures net flows. While the figure initially appears extreme, the percentage resulted from a very small initial baseline, causing even moderate net outflows to skew the metric drastically. This statistical artifact does not reflect a total loss but a shift in short-term futures positions.
Source: TradingView
Further analysis of the open interest reveals a steady decline with brief spikes, indicating that leverage is not returning to the market. Instead, futures positions continue to be closed out. This trend suggests that short-term traders are stepping back amid stalled price action. No signs currently suggest that long-term capital is entering SHIB positions at this stage.
Market Sentiment Reflects Cautious Approach
The sharp futures imbalance coincides with a broader market hesitation. With futures flows heavily favoring outflows and the absence of bullish technical signals, the market currently reflects a wait-and-see approach. Traders appear to be winding down positions rather than positioning for a potential rebound.
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