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Shiba Inu jumps about 40% as Upbit-led buying lifts market value

Shiba Inu jumps about 40% as Upbit-led buying lifts market value

SHIB hit a two-month high on surging Upbit-led volume before giving back part of the move, as whale activity, retail interest and falling futures open interest pointed to profit-taking.

SHIB

Fact Check
The primary source (CoinDesk) confirms SHIB surged ~36% to $0.0000057 adding ~$1B market cap, driven largely by South Korean traders on Upbit where SHIB/KRW is >10% of global volume. CoinGecko live data corroborates a ~34% 24h gain and shows Upbit SHIB/KRW top volume ($62.7M) exceeding Binance SHIB/USDT ($46.1M), supporting the claim that Upbit-led flows approached/surpassed Binance levels. Odaily's OKX-based newsflash independently reports a >35% intraday gain to a high of $0.00000574. All sources agree on both the magnitude (~35-36%) and the Upbit/South Korean retail driver, so the claim is well supported.
Summary

Shiba Inu surged roughly 36.5% to nearly 40% at its peak, briefly reaching about $0.00000580 to $0.00000582 and a two-month high, as trading volume spiked with South Korea’s Upbit playing a central role. The move added about $1 billion to SHIB’s market capitalization, returning it to the top 25 cryptocurrencies, but the token later gave back part of the rally, trading around $0.000004976 after futures open interest fell 13.79% to $55.53 million and daily volume cooled sharply. Santiment said whale transactions rose to 52, the most since March 31, while social dominance reached 0.084%, its highest since April 2, suggesting larger holders may have sold into strength as retail traders joined late. The rally was not tied to any clear project announcement and appeared to reflect a mix of technical breakouts, exchange-specific demand and speculative meme-coin momentum, with support near $0.00000500 and downside risk increasing if SHIB falls below $0.00000445.

Terms & Concepts
  • futures open interest: Total number of active futures contracts, used to gauge whether traders are adding or reducing derivatives exposure.
  • SHIB/KRW: A trading pair between Shiba Inu and the South Korean won.
  • RSI: Relative Strength Index, a momentum indicator used to assess whether an asset may be overbought or oversold.