According to CoinGlass data, Shiba Inu saw its open interest jump as much as 18% as the price made its biggest move yet in weeks.
A relief rally had spread across the markets on Monday; risk assets rallied more broadly, with the S&P 500 posting gains while the dollar declined as traders pared back some of their more hawkish Federal Reserve bets.
Cryptocurrencies are surging in response, with Shiba Inu seeing a sharp increase on Monday, rising from $0.0000057 to $0.00000621 and posting a significant green candlestick. Across the broader crypto market, crypto positions worth $570 million were liquidated in the last 24 hours, with shorts liquidated accounting for the majority at $367.05 million, while longs came in at $203.57 million.
The sharp surge saw traders readjusting their positioning on the derivatives market and, therefore, an increase in open interest.
At the time of writing, SHIB still sustained gains, with its price up 1.36% in the last 24 hours and up 1.32% in the last seven days. On Tuesday morning, traders will watch out for data on the U.S. manufacturing Purchasing Managers’ Index.
The Shiba Inu price sharply rose to $0.00000621, closing out Monday with a 6.84% gain, according to TradingView data. This represents its biggest gains in weeks.
The last time Shiba Inu saw this kind of increase was on Feb. 14, 2026, when it closed with gains of 11.23%. Following the increase in the price on a daily basis, Shiba Inu has reversed its weekly losses. The rise on Monday saw Shiba Inu surpass the daily MA 50 at $0.000006 again.
Shiba Inu is currently holding above here, with bulls attempting to maintain this level. If Shiba Inu is able to hold above here, it might move next to $0.00000644.
On the other hand, a break and close above the $0.000009 resistance might suggest that bulls are back in the driver’s seat. That clears the path for a rise to the $0.00001 level, which is expected to behave as resistance.