According to on-chain data, Shiba Inu has seen an increase in futures outflows in the last 24 hours. A total of 1,235,294,117,647 SHIB have outflowed from Shiba Inu futures contracts in this time frame.
CoinGlass data indicates 1,235,294,117,647 SHIB or $10.50 million recorded in SHIB futures outflows. This surpasses inflows, which amounted to $8.8 million, with this having implications for the market.
The futures flow metric tracks the capital flow of the cryptocurrency futures market. In the case of Shiba Inu, futures outflows in the last 24 hours were higher, suggesting traders might be reducing their exposure to the dog cryptocurrency.
This coincides with a price drop in the market, with traders now watching to see what comes next.
What’s next for SHIB price?
Shiba Inu reversed a two-day drop from a low of $0.00000815 on Friday. At the time of writing, SHIB was up 2.45% in the last 24 hours to $0.000008567. In the last 24 hours, Shiba Inu’s trading volume was up 4.39% to $94.53 million.
The next resistance targets for Shiba Inu lie at $0.00001017 and at the daily MA 50 at $0.00001084, which might enable it to reach $0.000015 in the long run.
In a fresh development, Shiba Inu has completed another hourly death cross in 2026, as the hourly MA 50 has fallen below the MA 20.
Shiba Inu will look to convert the daily MA 50 at $0.0000081 into support to sustain its short-term momentum. If this falters, the next support lies at $0.00000732.
In another scenario, Shiba Inu might follow the broader market trend, especially if Bitcoin’s price recovers. The chances of range trading remain as signaled by momentum indicators, including the RSI.
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