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The Shiba Inu price decline following the October 10 liquidation was as swift as the rest of the market, and even now, the meme coin continues to struggle to reach its pre-crash prices. Nevertheless, there have been some developments among major metrics that could indicate that the Shiba Inu price is getting ready to mark a bottom. These range from the open interest to the trading volume, with both reaching levels that have previously marked the bottom for the price.
Open Interest Crashes Toward 2025 Lows
One major metric that has suffered when it comes to Shiba Inu is the open interest. This metric which tracks the total number of open contracts for the meme coin has dropped very sharply, alongside the price, and has reached levels not seen in nine months.
According to data from the Coinglass website, the Shiba Inu open interest is now sitting below $80 million. The last time that the open interest was this low was back at the start of January 2025, right before the surge.
Back then, the open interest being below $80 million marked the bottom for the Shiba Inu price. What followed was a quick uptick in the Shiba Inu price as investors began to take their positions once again.
The result was a sharp uptick in the open interest, rising by over 800% in the next few weeks to reach a new all-time high open interest of $542 million. If history repeats itself, then this is when the Shiba Inu price could see a retracement.
Volume Paints Possible Bullish Future For Shiba Inu Price
Another metric that has fallen toward 2025 lows is the daily trading volume. Coinglass shows that trading volume is currently averaging below $200 million, which is quite low for the meme coin known for being one of the most famous meme coins in the space.
The daily trading failing blow $200 million has often been one of the markers of a bottom for the Shiba Inu price. This was the case back in May 2025 before the price rallied 40%, and then again in July 2025, leading to another 40% rally.
If this trend also holds, then it could be the precursor to another 40% rally. Coupled with the open interest crashing to 9-month lows, the Shiba Inu price might be on the verge of another upsurge.
