TLDR
- SHIB jumped 36% to $0.0000057 on Sunday, adding nearly $1 billion in market cap.
- There was no major announcement or development leading up to the move
- The SHIB/KRW pair of the South Korean exchange Upbit represents more than 10% of global trading volume
- The whale returned after six months of inactivity, spending $125,000 to buy 30 billion tokens
- The burn rate of SHIB tokens increased by more than 3,200% in 24 hours, reducing the circulating supply.
The price of the Shiba Inu rose 36% on Sunday, rising from below $0.0000042 to a high of $0.0000058. This price is the highest price SHIB has traded in more than two months.
The token’s market cap now stands at around $3.4 billion and sees a daily trading volume of around $380 million. This puts it back in the top 30 cryptocurrencies by market cap.
The move came on a quiet weekend when most crypto assets were trading flat. Dogecoin is up just 6% in the same period. PEPE gained 9% and DOGE added 5.5%, meaning there is no broader memecoin rotation to account for the size of SHIB’s move.
$SHIB Up 20% at the same time, the high time frame chart… pic.twitter.com/dfNGE9NHHi
— Altcoin Sherpa (@AltcoinSherpa) July 25, 2026
The gathering had two distinct legs. The first push occurred late Saturday, followed by about nine hours of flat price action. The second movement came during the Asian morning session.
South Korean traders raise trading volume
The SHIB/KRW pair of South Korean exchange Upbit was the largest single market, handling trading volume of around $62 million – more than 10% of SHIB’s global trading. The pair also showed a slight price premium compared to Binance and other dollar-denominated venues.
Historically, Korean traders have led sharp rallies in high-volatility symbols. Two-stage price action fits this pattern closely.
Short sellers suffered losses during the rally. Approximately $6 million of SHIB and 1000SHIB positions have been liquidated across approximately 2,300 traders, with approximately $5 million of this coming from short positions.
The whale returns after six months
One of the highlights of the series was the return of a large SHIB holder who had been inactive for over six months. That wallet spent $125,000 to accumulate over 30 billion SHIB tokens.
A single purchase of this size cannot directly cause the price to move 36%, but it can serve as a signal that attracts other buyers.
🔥225,855,518 $SHIB It burned within the last 24 hours. pic.twitter.com/fophWv8cnz
– Shepburn (@shipporn) July 26, 2026
SHIB symbol The burn rate has also increased by more than 3,200% over the past 24 hours, with weekly burns increasing by 500%. A decrease in the number of tokens in circulation is generally viewed as a positive supply signal.
Exchange supply data from CryptoQuant showed that SHIB holdings on cryptocurrency exchanges have declined over recent weeks, suggesting that tokens are moving off exchanges and into private wallets.
SHIB was last rejected at $0.0000067 in May, triggering a correction to nearly $0.000004 – a multi-year low at the time.
The token was launched in August 2020 as an Ethereum-based project by an anonymous developer named Ryoshi. It has since built Shibarium, a layer 2 network and broader token ecosystem.
