Trader sentiment in Shiba Inu derivatives market has done a complete 180 over the past week. Net positions — which sat at around -200 million just days ago, reflecting a market tilted toward short bets — have swung to more than +400 million in net longs as of May 11. That kind of shift in a short window is not common.
From Short To Long: A Full ReversalThe turnaround began around May 6, when net positions started climbing out of negative territory. By May 9, the indicator had crossed into positive ground, and it kept climbing.
Open Interest Climbs Past 6 BillionWhen prices rise alongside growing Open Interest, it typically points to sustained demand rather than a technical bounce driven by short sellers getting squeezed out. Reports indicate that this combination is what analysts often look for when assessing whether a rally has legs.
Leverage Cuts Both WaysStill, the same buildup that has driven prices higher carries risk. With Open Interest elevated and long positions stacked up, a slowdown in price movement could set off a chain of forced liquidations. If SHIB struggles to push higher while leverage stays elevated, a quick drop becomes more likely — even if the broader direction has not changed.
Featured image from Anne Arundel County Government, chart from TradingView
