Shiba Inu is facing renewed downside pressure as derivatives data signals weakening trader confidence. Funding rates have turned negative, indicating that short sellers are paying to maintain bearish positions. At the same time, futures open interest has dropped sharply, reflecting declining participation and reduced speculative activity. Analysts warn that if selling momentum continues, SHIB could test key support levels in the near term. Broader crypto market volatility is also contributing to uncertainty around the meme coin’s short-term outlook.