Shiba Inu Coin Price at Risk as Funding Rate and Futures Open Interest Plunge
By Crispus Nyaga | Edited by Anthony Patrick
February 13, 2026, 11:30 PM UTC
Shiba Inu Coin (SHIB), once considered one of the most prominent meme coins on the Ethereum blockchain, is currently facing significant downside pressure. Its price has plunged from a peak of $0.00004565 in March 2024 to around $0.0000060, with key market indicators signaling a bearish trend ahead.
Sharp Decline in Market Capitalization
SHIB’s market capitalization has experienced a dramatic contraction, falling from a record high exceeding $41 billion to approximately $3.7 billion today. This steep decline highlights waning investor interest and reduced market confidence in the token’s near-term prospects.
Falling Futures Open Interest
Data from CoinGlass reveals that SHIB’s futures open interest—the total value of outstanding derivative contracts—has steadily dropped over recent months. The open interest currently sits near $61 million, a stark drop from the $400 million recorded last July. Open interest is a critical measure of market participation; a decreasing level often points to diminishing investor activity, which, when coupled with a falling market price, can indicate anticipated further declines.
The broader cryptocurrency market has witnessed a similar retreat in open interest since the $20 billion liquidation event in October 2025, which has contributed to price drops across major assets including Bitcoin and various altcoins.
Negative Weighted Funding Rate Signals Bearish Sentiment
Another worrisome sign for SHIB holders is the coin’s weighted funding rate—a fee mechanism in futures markets dictating payments between long and short positions. Since February 5, SHIB’s funding rate has consistently stayed in the negative territory. Typically, a negative or falling funding rate suggests that traders expect the asset’s price to decrease, and more short positions are being held relative to longs.
Dwindling Coin Burn Rate and Weak Network Activity
Adding to the bearish sentiment is a sharp decline in SHIB’s coin burn rate. Recent data shows a drop of over 99% on a single day, with fewer than 500 coins—valued at less than $1—being burned in the past 24 hours. Coin burning, designed to decrease circulating supply, had previously been viewed as a positive driver for price appreciation.
Moreover, activity surrounding Shibarium, SHIB’s underlying blockchain layer, has cooled off notably. The total value locked (TVL) in Shibarium-based projects has fallen to roughly $856,000, indicating reduced engagement and diminished on-chain ecosystem vitality.
Technical Analysis Highlights Continued Weakness
Technical chart analyses underscore the precarious state of SHIB’s price action. The three-day price chart reveals a consistent downtrend, characterized by lower lows and a slide below all key moving averages. The Relative Strength Index (RSI) displays a descending channel pattern, and the coin remains below the Supertrend indicator—both bearish signals.
With demand remaining thin and no major positive catalysts on the horizon, SHIB may continue its decline. Technical support levels suggest the coin could test lows near $0.00000050 if downward momentum sustains.
Outlook
Shiba Inu’s current trajectory is challenged by a confluence of factors including declining open interest, persistent negative funding rates, falling burn rates, and weakening network activity. Without renewed investor interest or compelling fundamental developments, SHIB faces notable risks of further price erosion in the near term.
Shiba Inu (SHIB) Price and Market Snapshot:
- Current Price: $0.0000063
- 24h Volume: $144,247,377
- Market Cap: $3.7 billion
- 24h Low/High: $0.0000060 / $0.0000064
For continuing coverage on Shiba Inu Coin and other top cryptocurrencies, stay tuned with crypto.news.
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