Shiba Inu's futures open interest (OI) rose 13.45 percent over 24 hours to $69.79 million. The increase was faster than bitcoin and XRP, and the size of bets topped 11 trillion SHIB.

On April 22, blockchain media outlet The Crypto Basic reported that interest in the derivatives market is rising quickly along with a rebound in Shiba Inu's price.

Shiba Inu appears to be riding a market recovery after months of corrective moves. As of that day, the token was up about 2 percent and was aiming for a third straight daily close in positive territory. As the price began to move, market participants also appeared to expand futures contracts.

By growth rate alone, it stood out versus major cryptocurrencies. Bitcoin open interest rose 5 percent over the same period to $59.6 billion, while XRP gained 1.28 percent to $2.64 billion. The overall size is far larger for bitcoin and XRP, but the pace of short-term inflows was faster for Shiba Inu.

Fund flows also pointed to an expansion of new positions. Futures inflows over the past 24 hours came to $8.31 million, above outflows of $8.02 million. Newly added positions totaled 46 billion SHIB. This is seen as reflecting rising derivatives-market demand as traders seek to increase exposure to Shiba Inu.

Trading volume also increased. Based on CoinMarketCap, Shiba Inu market activity rose 14.5 percent to $101.1 million. Coinglass data showed futures volume surging 98 percent to $208 million, while spot volume rose 94 percent to $19.37 million. With price, open interest and volume all jumping, short-term attention has become concentrated.

Buy and sell direction diverged by market. In the spot market, the buy share was 51.68 percent, accounting for more than half of total volume and showing a "weak bullish bias". In the futures market, sells were 69 percent and buys were 30.9 percent, confirming a "strong bearish bias". That means a large influx of short-selling bets in the futures market.

Price indicators are also drawing attention. Shiba Inu formed support near $0.00000589, its 50-day simple moving average. After breaking above that zone on April 15, it also stayed above it on a closing basis during a Sunday retest. That has kept the market focused on further gains after the rebound from the moving average.

Momentum indicators also signaled a mild improvement. The relative strength index (RSI) was presented at 55, a level suggesting room for further upside. The MACD also turned green, and the MACD line at 0.00000005 crossed above the signal line at 0.00000003, supporting the possibility of a trend change.

This move is notable in that Shiba Inu's price rebound has not been limited to a rise in spot trading, but has also led to higher futures open interest and volume. Still, with a slight bullish tone in spot and strong selling dominance in futures appearing at the same time, short-term direction is likely to be driven by changes in derivatives-market positioning.