Excess in Shiba Inu Raises Red Alert for Bitcoin and Cryptocurrencies!

While the unstoppable rise in meme coins continues, an important signal of greed has been seen in Shiba Inu (SHIB).

The positive atmosphere that has been going on for months in the cryptocurrency market has led to investors With increasing risk appetite This led to significant increases in meme coins. But these increases also triggered critical greed signals.

According to data provided by CoinGlass, it may indicate a peak in SHIB. open interest exceeds 100 million dollars output. this data From August 2023 It has exceeded 100 million for the first time since then.

With the short-term rise in August to $0.000011 SHIB, which reaches up to more than 30% had lost value.

While this excess of abandonment today shows a significant increase in the number of users who want to profit from the rise and turn to futures transactions, it also reveals that they have entered a more volatile and risky market.

According to CoinGecko data, in the last week 180% up exhibiting SHIB, at the time of writing From $0.0000263 is being traded.

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