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Shiba Inu futures saw a sharp pullback in derivatives activity as CoinGlass reported a 306% negative netflow. The shift showed more SHIB leaving derivatives exchange wallets than entering them. Open interest stood at $61.2 million. Liquidations reached $42,485 in the latest 24-hour session.
The data suggested that traders were reducing leveraged exposure instead of adding new positions. At the same time, SHIB traded near $0.00000575 and stayed far below its peak near $0.000012 from the past year.
The token also broke below support near $0.0000054 this week, based on technical analysis on CoinMarketCap. That move raised concern about another test of the March 2026 lows.
CoinGlass measures token movement in and out of derivatives platform wallets. The metric helps show how traders position themselves in the perpetual futures market.
A negative futures netflow means more tokens leave derivatives wallets than enter them. In SHIB’s case, the 306% drop pointed to shrinking confidence among traders who use leverage.
The negative flow did not automatically point to a price crash. Even so, it showed fewer traders wanted to hold SHIB derivatives at current levels.
Crypto.news reported earlier this month that more than 3 billion SHIB tokens reached exchanges in one session. That added sell-side pressure as broader crypto liquidations accelerated.
The report also noted declining SHIB futures open interest and funding rate pressure in February 2026. Those trends had already signaled weak conviction among derivatives traders.
Open interest rose 2.1% over the past 24 hours, even as spot trading volume fell 18%. That split created mixed signals around near-term direction.
SHIB also traded near $0.0000056 after falling 10% over the past seven days. The move brought the token back toward a key support zone around $0.0000055.
Read More: Shiba Inu News Today: SHIB Holds Key Support as Exchange Supply Falls to 2026 Low
The weekly chart still shows a contracting descending triangle that has guided SHIB since its 2021 peak. Each recovery attempt has met the falling upper resistance line and stalled.
Analyst Aurex Finance on TradingView described a completed three-wave corrective structure. The first wave dropped SHIB from a March 2024 high of $0.000045 to $0.000010 by August 2024.
A partial rebound then lifted the token to $0.000033 in December 2024. After that, a third wave pushed SHIB back toward the lower edge of the triangle, where it now sits.
The analysis placed that decline at a long-term support zone. It also pointed to two levels that bulls would need to clear in any recovery. Those levels sit near $0.000011 and $0.000033.
Until SHIB breaks above both, the long-term chart remains under pressure. The triangle has compressed for years, so any breakout could trigger a sharp move once it happens.
SHIB futures netflow fell sharply as traders reduced leverage and spot pressure stayed firm. Open interest held near $61.2 million while support near $0.0000055 remained under watch. The market now waits to see whether SHIB can defend that level or face deeper weakness.
