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November 7, 2023

Growing Interest in SHIB and DOGE Futures Contracts

Thando Dlamini
Written byThando DlaminiWriter
Researched byNikos PapadopoulosResearcher

Introduction

According to Velo Data, the dollar value locked in the number of active perpetual futures and standard futures contracts tied to SHIB has increased by 23% to $61.74 million since Nov. 1. This represents the highest percentage growth among top cryptocurrencies.

Growing Interest in SHIB and DOGE Futures Contracts

Open Interest in SHIB

The open interest for SHIB has seen a significant increase, reaching $61.74 million. This indicates a growing interest and investment in SHIB, as more traders are participating in perpetual futures and standard futures contracts.

Open Interest in DOGE

In addition to SHIB, the open interest in DOGE has also experienced growth. It has increased by 14.6% to $328 million. This suggests that DOGE continues to attract attention and investment from traders.

Conclusion

The increase in open interest for both SHIB and DOGE highlights the growing popularity and potential of these cryptocurrencies. Investors and traders are showing a strong interest in participating in futures contracts tied to these assets. As the open interest continues to rise, it is important for individuals to stay informed and make informed decisions when it comes to investing in these cryptocurrencies.

About the author
Thando Dlamini
Thando Dlamini
About

Thando Dlamini, a vivacious 22-year-old from South Africa, seamlessly blends her love for the vibrant world of online casinos with her meticulous localization skills, making the digital gaming experience truly South African.

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