Shiba Inu's price has seen significant growth over the past period, driven by a decrease in geopolitical tensions and a shift in investor sentiment towards riskier assets.
The token's price rose 8.63% to $0.00000615, outperforming the broader crypto market which advanced 2.57% to a total capitalization of $2.42 trillion.
Derivatives data indicates increasing momentum with trading volume in Shiba Inu derivatives rising by 100.32% and open interest climbing 10.12%. This suggests that traders are actively establishing and maintaining leveraged positions, indicating heightened conviction in the token's near-term price movement.