Binance Sees Surge in Shiba Inu Futures Open Interest Despite Whale Selling

Shiba Inu (SHIB) is currently experiencing a dynamic interplay between bullish futures activity and significant whale sell-offs as its price shows signs of recovery. The meme token has managed to climb above the 23.6% Fibonacci retracement level of its May-June decline, supported by a 5% weekly gain and bullish signals from the 14-day relative strength index. Notably, Binance's SHIB perpetual futures open interest has surpassed 7 million tokens for the first time, indicating heightened trading activity and investor interest. This surge in open interest comes amid a broader context of whale selling, creating a tug-of-war scenario that could shape SHIB's near-term price trajectory. The developments highlight the growing influence of derivatives markets in the cryptocurrency space, particularly on platforms like Binance, where retail and institutional interest converge. As of July 9, 2025, the SHIB market remains one to watch for both its technical indicators and the evolving balance between futures positioning and spot market movements.

Shiba Inu's Futures Open Interest Surges Amid Whale Selling and Price Recovery

Shiba Inu (SHIB) is witnessing a tug-of-war between bullish futures activity and whale sell-offs as its price attempts a recovery. The meme token has climbed above the 23.6% Fibonacci retracement level of its May-June decline, buoyed by a 5% weekly gain and bullish signals from the 14-day relative strength index.

Binance's SHIB perpetual futures open interest has breached 7 million tokens for the first time since late May, accompanied by positive funding rates. This derivatives momentum contrasts with on-chain data showing whales moving trillions of SHIB to exchanges—a potential overhang for the rally given that just ten wallets control over half of the supply.

DeFi Dev Corp Expands SOL Holdings to 690,420 Tokens in Strategic Accumulation

DeFi Development Corp. (Nasdaq: DFDV) has bolstered its solana position with a $7.03 million purchase of 47,272 SOL tokens at $149.09 each. The firm's total SOL holdings now stand at 690,420 tokens—a 64.1% increase since July—reflecting aggressive accumulation during a period of heightened institutional interest in the blockchain.

The newly acquired tokens will be staked across multiple validators, including DFDV's proprietary infrastructure, as part of a yield-generation strategy. This follows the company's July 3 acquisition of 17,760 SOL worth $2.72 million, demonstrating consistent capital deployment into Solana's ecosystem.

Market observers note coinciding on-chain activity, including a separate transfer of 450,000 SOL from an anonymous wallet to Binance. Solana's price held steady at $152.85 amid speculation about potential Solana-based ETF filings, with the SEC reportedly requesting revised proposals from applicants by July 2025.