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# Shiba Inu Value Remains Stable, SHIB Outstanding Agreements Ascend 8%
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The digital currency marketplace has exhibited some instability recently, yet meme coin devotees, notably Shiba Inu (SHIB) proprietors, maintain an optimistic outlook. Apparently, they are wagering on SHIB to experience an upward surge shortly.
## Shiba Inu Outstanding Agreements and Revived Assurance
Information from CoinGlass reveals that SHIB’s outstanding agreements have surged by 8.9% within the preceding 24 hours, coinciding with a slight rebound in price.
Essentially, traders are maintaining active derivative contracts for approximately 9.18 trillion SHIB, valued at around $117.82 million. SHIB has been gradually but consistently ascending over the past week, emerging from a downturn.
This surge in outstanding agreements implies that proprietors are regaining assurance following the previous week’s profits. They anticipate that the meme coin will sustain this trajectory and attain unprecedented peaks.
Currently, SHIB is being exchanged at $0.00001280, marking a 1.23% increase in the last 24 hours. Given the recent downward strain on meme coins, this elevation in SHIB’s worth is quite noteworthy.
It’s crucial to recall that SHIB briefly descended beneath the $0.000010 reinforcement threshold recently, instigating some apprehensions. Nevertheless, as the present price movement illustrates, the token has rebounded swiftly. Shiba Inu (SHIB) Cost Forecast for March 15
Is it feasible for SHIB to surge by 63%?
It’s also worthwhile to monitor OKX (holding 1.03 trillion SHIB in open positions) and Bitget (holding 874.55 billion SHIB in open positions).
According to analysts, Shiba Inu may experience a 63% breakout based on the Bollinger Bands indicator. This implies that SHIB is potentially oversold or about to undergo a price turnaround.
Observers of the market think that SHIB’s performance in the days ahead will ascertain whether its rebound can be maintained. They are of the opinion that stabilizing the cost via burn mechanisms might help its comeback.
The Gate.io exchange accounts for roughly three-quarters of the open interest, with traders committing 6.76 trillion SHIB, valued at $86.56 million, to the exchange, representing 73.47% of the total.
