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Shiba Inu (SHIB) surges over 22% in 24 hours, hitting $0.00002764 with $500 million traded and 64% rise in futures open interest—see why the meme coin is back
Shiba Inu (SHIB) exploded 22% in a single day, pushing the token to roughly $0.00002764 and reviving meme‑coin momentum that lifted its weekly gain above 22%【3】. The rally comes amid a $500 million surge in 24‑hour trading volume and a 64% jump in SHIB futures open interest, signaling renewed speculative activity【1】.
| At a glance | |
|---|---|
| Price | $0.00002764 |
| 24h change | +22% |
| 24h volume | $500 million |
| Catalyst | Meme‑coin rally, South Korean exchange activity, futures open interest surge |
The price spike coincided with a flood of meme‑driven posts from SHIB’s official X account, which mocked bearish sentiment and reignited community enthusiasm. Trading on South Korean platforms, especially Upbit, outpaced Binance and Coinbase, with the SHIB/KRW pair alone generating over $46 million in volume in the last 24 hours【1】. This regional activity helped fuel the broader market surge, as speculative traders chased the token’s momentum.
Futures data from Coinglass shows open interest in SHIB contracts rose 64% over the past week, indicating that traders are positioning for further moves【1】. While the token’s price sits well above its May‑22 low, it remains far from its historic high of $0.00008845 recorded on October 28, 2021【6】. The current market cap, inferred from the circulating supply of roughly 589 trillion tokens, remains around $16 billion, far below the $58.9 billion that would be required at a $0.0001 level【6】.
The surge underscores how meme‑coin sentiment, amplified by community‑driven hype and regional trading spikes, can rapidly reshape price dynamics. Whether SHIB can maintain this momentum or succumb to typical meme‑coin volatility remains to be seen.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 6 outlets · Jul 28, 2026 · How we report
The rally was driven by a broader crypto market recovery, high trading volume, and a surge in token burns from the Woof Swap V3 launchpad, according to Benzinga and LuckSide Crypto.
Yes, Santiment reported 52 whale transactions worth at least $100,000 on July 26, indicating that large holders were selling into the price surge.
Trading volume exceeded $500 million in a 24‑hour period, with a 64% rise in futures open interest over the week, as reported by Benzinga and Coinglass.
Burns reached a one‑year high, with 1.125 billion SHIB burned in a single day followed by 1.092 billion the next day, reducing circulating supply.
Analysts note short‑term volatility with profit‑taking by whales and late retail entry, suggesting a neutral to slightly bullish outlook.