Shiba Inu rose more than 12% as a broader crypto-market rebound triggered $3.1 billion in short liquidations, the largest wave recorded since 2021. SHIB traded at $0.00000495 after rising from $0.00000443 the previous day and briefly reaching $0.00000502 early Thursday. The token was up 10% over seven days. The rally followed an appeal for Congress to pass crypto market-structure legislation after the White House met with crypto industry leaders, signs of improved Treasury-market liquidity and indications that the Clarity Act could advance in the Senate. Tim Scott, who oversees the Banking Committee, said at the SALT conference that the bill had a high chance of advancing in September, with a procedural vote expected on September 15. Separately, UEX US listed SHIB/USDT, offering 4.5% annual returns through a rewards scheme, SHIB-collateralized loans and purchases through PayPal, bank transfers and card payments. CoinGlass reported $3.38 billion in total liquidations among 192,002 traders, including $3.1 billion in short liquidations and $275.45 million in long liquidations. The short liquidations exceeded those recorded during the October 10, 2025 flash crash, when more than $19 billion was liquidated overall and shorts accounted for $2.47 billion, although Wednesday's move lacked comparable losses on the long side.