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Shiba Inu spikes 36% to $0.0000057, adding $1 bn market value; 1 trn tokens leave exchanges and burn activity surges 237%—see why the rally matters.
Shiba Inu (SHIB) surged 36% on Sunday to $0.0000057, adding roughly $1 billion in market cap in a single day despite no announced catalyst, a move largely credited to heavy buying on South Korean exchange Upbit【3】.
| At a glance | |
|---|---|
| Price | $0.0000057 |
| 24h change | +36% |
| Key level | 100‑day EMA ≈ $0.0000050 support |
| Catalyst | South Korean Upbit buying + 1 trn token outflows + 237% burn surge |
Upbit’s SHIB/KRW pair accounts for more than 10% of global SHIB volume, trading at a slight premium and delivering the bulk of the $380 million daily turnover that helped push the token to a $3.4 billion market cap【3】. The surge coincided with short‑seller liquidations of about $6 million, which followed rather than caused the price rise, underscoring the buying pressure from Korean traders.
More than 1 trillion SHIB tokens have been withdrawn from centralized exchanges, indicating holders are moving assets off‑exchange rather than selling them【2】. At the same time, burn activity spiked 237% in a 24‑hour period, with 15.5 million SHIB removed from circulation—a record rate for the token【4】. These deflationary forces align with the token holding near its 100‑day exponential moving average (EMA) of $0.0000050, a level that recently shifted from resistance to support after the breakout【2】.
| Metric | Value |
|---|---|
| Exchange outflows | >1 trn SHIB |
| Recent burn | 15.5 M SHIB (237% surge) |
| 100‑day EMA | $0.0000050 |
The rally highlights how regional trading dynamics and on‑chain tokenomics can move a meme token sharply, even in the absence of new product announcements. Whether the price can sustain above the 100‑day EMA will depend on whether Korean buying persists and if further token burns keep supply pressure tight.
Coverage is mostly measured — 176 of 181 reports stay neutral.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 4 outlets · Aug 2, 2026 · How we report
As of the provided reports, Shiba Inu has a circulating supply of approximately 589 trillion tokens. The project has already burned more than 40% of its initial 1 quadrillion token supply to reduce the total amount in circulation.
Some bullish investors and team members, such as Lucie, have expressed belief in a $0.01 price target for Shiba Inu. However, critics note that this would require a market cap of nearly $5.9 trillion and a massive reduction in the circulating supply to approximately 85 billion tokens.
Shiba Inu is limited by the speed restrictions of the Ethereum blockchain and processes transactions at a slower rate than newer proof-of-stake networks like Solana and Cardano. These newer blockchains are currently attracting developers away from the Ethereum ecosystem.
Shiba Inu utilizes a burn portal on its Shibarium Layer-2 protocol to remove tokens from circulation. Despite these efforts, analysts suggest that reducing the supply to a level that could support a $0.01 price could take more than a million years at the current rate.