Shiba Inu (SHIB) fell to $0.0000054 on Monday, marking a nearly 67% decline over the past year as traders abandon the meme currency. The token has seen a sharp drop in buying activity and social media buzz from its peak four years ago, while futures open interest has declined on eight out of ten major exchanges. Trading volume on platforms like KuCoin has plummeted by nearly 70%, contrasting sharply with Ripple’s XRP, which saw futures open interest rise to $2.78 billion despite its own price drop to $1.
According to the latest derivatives data from TradingView, eight out of ten cryptocurrency exchanges have seen a decline in Shiba Inu’s futures open interest. Positions are being closed more quickly than they are being opened during the same timeframe. The data, which shows the scenario emerged in 2024 but gained further steam in 2025 and into 2026, indicates that SHIB is barely experiencing a price uptick this year.
The declining pattern is similar on all cryptocurrency exchanges. The futures open interest in Shiba Inu has fallen 11.31% on KuCoin, 4.08% on MEXC, 3.37% on OKX, 2.12% on Bitget, and 2.02% on Gate.
SHIB derivatives volume decreased by nearly 70% on KuCoin, by 41% on Bitget, and by roughly 34% on MEXC. Volume on dYdX, LBank, and WhiteBIT also saw a decline.
This is a dangerous precedent for Shiba Inu, as a decline in futures open interest indicates that the meme currency is deeply entrenched in the bear market. An uptick from here is not easy, as convincing the majority of traders to begin taking entry positions at a time when the AI sector is generating meteoric gains is a herculean task in itself. The road ahead for SHIB is narrow, bumpy, dusty, and filled with derailment.
