Shiba Inu rose 36% to around $0.0000057 on Sunday, adding roughly $1 billion to its market value in one day, without any announcement or development to justify it.
The token now has a market capitalization close to $3.4 billion on daily volume of nearly $380 million, its highest turnover ranking in months.
Nothing has emerged from Shibarium, layer 2 of the network, and the broader dog token complex has been left behind. Dogecoin gained 6% in the same stretch, and smaller-cap tokens moved as much as 10%, pointing to something specific to SHIB rather than a rotation toward memecoins.
South Korean purchases stand out. Upbit’s SHIB/KRW pair is the largest market at around $62 million, more than a tenth of global volume, and prints a slight premium against Binance and the other dollar venues.
The country’s traders are known to drive exuberant rallies in high-volatility tokens, and the token’s rise fits that pattern, with a first push on Saturday night, a flat nine hours, then a second move during the Asian morning.
