Dog-themed cryptocurrency Shiba Inu has seen 8.9 trillion SHIB in total futures open interest, amounting to about $110 million. SHIB open interest refers to the total number of outstanding contracts for Shiba Inu that have yet to be settled. The Shiba Inu market remains active, as traders enter futures or options contracts, as reflected in an open interest of 8.9 trillion SHIB.
At press time, SHIB was just up 0.11% in the last 24 hours to $0.00001211 but had dropped 2.21% in the last hour.
The cryptocurrency market has reversed its gains from yesterday, with many assets, including Shiba Inu, currently trading in the red. Shiba Inu rebounded to highs of $0.00001244 in Thursday’s session but has since reversed its daily gains as the markets reacted to macroeconomic concerns.
Investors will be keenly watching the nonfarm payrolls report, which is scheduled to be released on Friday. Dow Jones economists estimate nonfarm payrolls to increase by 140,000 jobs as the unemployment rate remains unchanged at 4.1%. The report will provide insight into the health of the U..S economy amid concerns over slowing growth.
Federal Reserve Chairman Jerome Powell is also scheduled to give a speech on Friday, which the markets will closely watch.
Crucial warning issued
Susbarium Shibarium Trustwatch, a Shiba Inu-focused X account that is dedicated to uncovering scams, has urged the Shiba Inu community to stay vigilant against scams in a recent tweet.
Susbarium reported that it had been alerted to an increase in fraudulent activities targeting the Shiba Inu community. Scammers impersonate trusted members, sharing fake reward links and promoting fraudulent collections.
Susbarium went ahead to share five precautionary measures for the SHIB community.
First, the Shiba Inu community is urged to verify sources and always confirm the identity of anyone sharing links or rewards. Official updates will only come from verified accounts or trusted channels. Second, they should avoid suspicious links and never click on links from unknown sources, particularly those promising rewards or airdrops.
The next step is to protect their wallets by never revealing private keys, recovery phrases or sensitive wallet information. Also, Shiba Inu community members should report suspicious activity and stay updated by following official ShibArmy Scam Alerts and trusted channels for the latest warnings.
