Delisting on BitMEX Signals Growing Liquidity Risk for SHIB

BitMEX, a leading derivatives exchange, announced on September 5, 2025, that it will delist 48 perpetual contracts on September 11 at 12:00 UTC due to "insufficient trading interest." The affected contracts include SHIBUSD, along with others such as ARBUSD, ORDIUSD, and BLURUSDT. Once delisted, trading will cease, and all open orders will be canceled as part of standard early settlement procedures [1]. This move signals a reduction in market liquidity for these tokens, as perpetual contracts on platforms like BitMEX play a critical role in providing depth and price discovery in crypto markets.

The Shiba Inu (SHIB) token, which is one of the affected contracts, has shown mixed signals in recent months. While the token remains below its 50-week moving average and is confined under a falling logarithmic resistance trend, the SHIB team has expressed optimism for a potential turnaround in the fourth quarter. The ecosystem has grown significantly, with over 1.5 million on-chain holders, and the team is focusing on expanding SHIB’s utility across Asia, particularly in Korea, Japan, and China [2]. The marketing lead, Lucie, has urged the "Shibarmy" to shift focus from token burns to broader market outreach, emphasizing the importance of real-world adoption and strategic partnerships in driving value [2].

From a technical perspective, SHIB has formed a potential inverse head and shoulders (H&S) pattern, a classic bullish reversal structure, particularly on the weekly timeframe. Additionally, the Relative Strength Index (RSI) has shown a rising divergence, suggesting that the bearish trend may be losing momentum [2]. However, derivatives data remains bearish, with SHIB’s Open Interest (OI)-weighted funding rate recently turning negative. This indicator historically aligns with mid-term bearish sentiment in the crypto derivatives market [1].

Market analysts and investors are also watching for broader macroeconomic catalysts that could influence SHIB’s trajectory. A U.S. Federal Reserve rate cut, expected on September 17, could boost risk-on sentiment and drive liquidity into altcoins and memecoins like SHIB. Lower interest rates typically enhance the appeal of speculative assets, potentially confirming the bullish chart patterns and triggering a seasonal rally [2]. However, some analysts caution that the token’s success will depend on execution of its Q4 roadmap, including the expansion of SHIB’s utility and adoption in Asian markets [2].

Despite the bullish narrative, SHIB faces bearish pressures in the near term. Price data indicates that the token is currently trading in a sideways consolidation phase, with the 10-day and 100-day moving averages nearly aligned at around $0.0000122. A break below the immediate support level of $0.000011083 could see the price drop by over 21%, according to technical analysis models [3]. This underlines the vulnerability of SHIB to market sentiment shifts and liquidity constraints, particularly with the impending delisting on BitMEX [1].

As the market braces for these developments, the delisting of SHIBUSD on BitMEX serves as a cautionary signal for investors. Reduced liquidity can exacerbate price volatility and make it harder for the token to break out of its current consolidation pattern. While the SHIB team remains optimistic about the fourth quarter, the immediate outlook remains uncertain. Market participants are advised to monitor both technical signals and broader macroeconomic developments, particularly the Fed’s monetary policy, for potential turning points in SHIB’s price action [1].

Source:

[1] 48 perpetual contracts will be delisted on September 11, ... (https://www.chaincatcher.com/en/article/2203473)

[2] Shiba Inu (SHIB) Team Signals Bullish Q4 Despite Bearish ... (https://coinedition.com/is-shiba-inu-a-buy-or-a-sell-data-that-shows-a-major-conflict-explained/)

[3] Why Shiba Inu Could Fall More Than 15% This Fall as ... (https://www.mitrade.com/insights/news/live-news/article-3-1089298-20250902)