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Shiba Inu surged 36% to $0.000005, driven by South Korean traders and thin exchange supply. See price, volume and on‑chain details.
Shiba Inu (SHIB) surged 36% to around $0.000005, propelled by a wave of buying from South Korean retail traders and a sharp drop in exchange‑held supply that left the order book thin [2].
| At a glance | |
|---|---|
| Price | $0.000005 (≈ $0.0000043‑$0.000005 range) |
| 24h Change | +36% |
| Key level | $0.00000452 support; $0.00000586 resistance |
| Catalyst | South Korean retail buying + whale‑driven supply crunch |
The rally was anchored by South Korean traders on Upbit, whose $4.25 million SHIB volume in March matched Binance’s $4.36 million, highlighting the regional concentration of demand [2]. At the same time, a single whale bought over 30 billion SHIB while centralized exchange reserves fell to a multi‑year low of 86.1 trillion tokens, creating a thin order book that amplified price moves [3][4]. The combination of aggressive retail demand and limited sell‑side liquidity pushed SHIB above its 50‑day and 100‑day simple moving averages, with volume up 55% and the 7‑day RSI hitting 88.5, indicating overbought conditions [3].
The price break occurred near the $0.0000050 level, testing the 200‑day average, and was supported by a short‑term bullish technical pattern. However, the RSI above 78 and the narrow supply on exchanges suggest the rally could face a rapid correction if sell‑side liquidity returns [4]. On‑chain data also showed a 5,223% spike in the SHIB burn rate over 24 hours, a factor that adds deflationary pressure but remains modest relative to the 585 trillion circulating supply [3].
While SHIB’s market share among memecoins has been declining in 2026, the current rally reflects a broader “memecoin season” rotation, where gains in other meme tokens have reinforced momentum [3]. The regional focus on South Korean traders adds a structural risk: regulatory shifts or sentiment changes in that market could unwind the price quickly, as Korean regulators have previously intervened in crypto markets [2].
The rally underscores how a confluence of retail enthusiasm and supply constraints can generate sharp price spikes, but the thin liquidity and overbought technical signals leave the upside vulnerable to a swift reversal.
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 · Jul 28, 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.