Dog-themed cryptocurrency Shiba Inu (SHIB) has seen a 1,724% jump in futures netflows in the last hour attracting the market's attention.
According to CoinGlass data, Shiba Inu saw $1.17 million in futures inflow in the last one hour with outflows coming in at $1.06 million. This has produced a futures netflow surge of 1,724%.
Shiba Inu price has declined since February 25 and is set to mark its sixth day of drop with the markets now watching next move.
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Positive futures netflow might imply traders adjusting their positions in the derivatives market. Shiba Inu's volume in the derivatives market has increased by 71%.
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On Monday a burst of buying had lifted prices but broader conviction remained limited as traders waited for clearer catalysts; prices then fell afterwards.
At the time of writing SHIB was down 5.04% in the last 24 hours to $0.00000546 as the broader crypto market fell in response to macro concerns.
Shibarium clarification made
The Shiba Inu community X account Shibizens highlighted that most connection problems on Shibarium are usually not network related. It added that if something is not working on Shibarium, it is usually a wallet connection issue, not a network issue.
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Shibarium SHIB.io noted that most problems encountered by Shibarium users often come from an outdated or incorrect RPC. It provides a few resolution tips to try in the case of connectivity issues such as clearing wallet cache, and removing the Shibarium network before re-adding it again using the correct RPC. This, it said, might help to resolve the issue quickly.
"Before assuming anything is wrong, please try the following: Clear your wallet cache, remove the Shibarium network, add it again using the correct RPC. In most cases, this resolves the issue immediately," Shibizens wrote.
In a separate tweet, Shibarium SHIB.io highlighted a Shibarium explorer issue, where some users observed that certain tokens and NFTs were not displaying correctly on Shibarium Scan or within wallet NFT tabs. Shibarium SHIB.io says this issue appears to have been related to explorer indexing delays and a temporary bridge update. There was no indication of asset loss at the protocol level.
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