Attention Shiba Inu (SHIB) investors: Tension is rising!

Shiba Inu (SHIB) recently saw a significant increase in open positions.

Memecoin's open positions may not have broken the all-time high level in March 2024 yet, but it may soon see a rise in activity.

Shiba Inu's total open position has exceeded 97 million dollars on multiple exchanges and reached one of the highest levels of the year so far. According to Coinglass data, SHIB's open position is at $97.08 million as of June 6, 2024.

This figure is remarkable because open positions have been at dangerous levels for the past few months. Shiba Inu open positions, which reached almost the all-time high level of 136 million dollars in March 2024, rapidly declined and lost more than half of its value by mid-April.

The meme coin frenzy highlighted SHIB.

SHIB open positions started to recover in May and increased with the arrival of June. From the lowest levels of March to the current June figures, Shiba Inu's open position has now almost increased by 100%, indicating a significant increase in investor interest.

Currently, open positions in SHIB, which is currently trading at over 97%, are about 60% away from reaching an all-time high. The likelihood of this happening also has significant implications for SHIB's price reaching an all-time high.

Why is this statistic important for Shiba Inu (SHIB)?

The rise of Shiba Inu long positions is important not only to measure investor interest, but also in terms of how it has affected the SHIB price. Looking at the March figures where SHIB long positions reached an all-time high, we see that the price also rose accordingly. Therefore, the current increase can also turn into a price increase.

If open positions return to the ATH of 136 million dollars, based on the last price increase, we can see that the price of Shiba Inu touched 0.00004 dollars once again and reached a new annual high. This is because when open positions increased in March, the price of SHIB increased by more than double.

However, there has been a slight slowdown in open positions in the last 24 hours, resulting in a total decrease of 0.42%. The SHIB price is currently at the level of $0.0000256 and represents a 4.41% decrease from last week.

This article does not contain investment advice or recommendation. Every investment and trading operation involves risk, and readers should conduct their own research when making decisions.