Shiba Inu’s price decline after the October 10 sell-off was as rapid as the rest of the market, and even now the meme coin continues to struggle to reach its pre-crash prices. However, some developments among the leading indicators could indicate that the Shiba Inu price is about to bottom out. These range from open interest to trading volume, with both reaching levels that previously marked the bottom of the price.
Open interest collapses towards 2025 lows
One of the major indicators that has suffered when it comes to Shiba Inu is open interest. This metric that tracks the total number of open contracts for the coin itself has fallen very sharply, along with the price, and reached levels not seen in nine months.
According to data from the Coinglass website, Shiba Inu open stake now sits below $80 million. The last time open interest was this low was in early January 2025, just before the rise.
At the time, the open position below $80 million marked the lowest level of the Shiba Inu price. What followed was a rapid rise in the Shiba Inu price as investors began to take their positions again.
The result was a sharp rise in open interest, increasing more than 800% over the following weeks to reach a new record open interest level of $542 million. If history repeats itself, this is when the Shiba Inu price could experience a retracement.
Volume Paints a Possible Bullish Future for Shiba Inu Price
Another metric that has fallen toward 2025 lows is daily trading volume. Coinglass shows that trading volume is currently averaging less than $200 million, which is quite low for the meme coin known to be one of the most famous meme coins in the space.
The daily trading failure of $200 million has often been one of the markers of a bottom for the Shiba Inu price. This was the case in May 2025 before the price rebounded by 40%, then again in July 2025, leading to a further increase of 40%.
If this trend also continues, then it could be the precursor to a further 40% increase. Coupled with open interest rates collapsing to 9-month lows, the Shiba Inu price could be poised for another surge.
Featured image of Dall.E, chart by TradingView.com
