TLDR
- SHIB jumped 36% to $0.0000057 on Sunday, adding roughly $1 billion in market value
- No major announcement or development triggered the move
- South Korean exchange Upbit’s SHIB/KRW pair accounted for over 10% of global volume
- A whale returned after six months of inactivity, spending $125,000 to buy 30 billion tokens
- SHIB’s token burn rate spiked over 3,200% in 24 hours, reducing circulating supply
Shiba Inu surged 36% on Sunday, climbing from below $0.0000042 to a high of $0.0000058. That price is the highest SHIB has traded in over two months.
The token now has a market cap of around $3.4 billion and saw roughly $380 million in daily trading volume. That 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 rose just 6% in the same period. PEPE gained 9% and DOGE added 5.5%, meaning no broader memecoin rotation explains SHIB’s size of move.
$SHIB up 20% meanwhile the high time frame chart… pic.twitter.com/dfNGE9NHHi
— Altcoin Sherpa (@AltcoinSherpa) July 25, 2026
The rally had two distinct legs. The first push happened late Saturday, followed by around nine hours of flat price action. The second move came through the Asian morning session.
South Korean Traders Drive Volume
South Korean exchange Upbit’s SHIB/KRW pair was the single largest market, handling around $62 million in volume — more than 10% of global SHIB trading. The pair also showed a slight price premium compared to Binance and other dollar-denominated venues.
Korean traders have historically driven sharp rallies in high-volatility tokens. The two-stage price action fits that pattern closely.
Short sellers took losses during the rally. Around $6 million in SHIB and 1000SHIB positions were liquidated across approximately 2,300 traders, with roughly $5 million of that coming from short positions.
Whale Returns After Six Months
One standout on-chain event was the return of a large SHIB holder who had been inactive for over six months. That wallet spent $125,000 to accumulate more than 30 billion SHIB tokens.
A single purchase of that size cannot directly cause a 36% price move, but it can act as a signal that draws in other buyers.
🔥 225,855,518 $SHIB burned in the past 24 hours. pic.twitter.com/fophWv8cnz
— Shibburn (@shibburn) July 26, 2026
SHIB’s token burn rate also spiked over 3,200% in the past 24 hours, with weekly burns up 500%. Fewer tokens in circulation is generally seen as a positive supply signal.
Exchange supply data from CryptoQuant showed SHIB holdings on crypto exchanges have been falling over recent weeks, suggesting tokens are moving off exchanges into private wallets.
SHIB was last rejected at $0.0000067 in May, which triggered a correction to near $0.000004 — a multi-year low at the time.
The token launched in August 2020 as an Ethereum-based project by an anonymous developer called Ryoshi. It has since built out Shibarium, a layer-2 network, and a broader token ecosystem.
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