Shiba Inu price up 1% on Coinbase India as traders flood in

Shiba Inu (SHIB) is trading at ₹0.0004914 on Coinbase India, a 1% rise from a day ago and an 8% gain over the past week [2]. The token’s circulating supply stands at 589.24 trillion, matching its max supply, which yields a market cap of roughly ₹280.62 billion [2].

Trading activity has surged: unique traders jumped about 73% in the last 24 hours, while overall memecoin volume climbed roughly 49% [2]. The influx of new participants pushed the number of buyers to 2,059 and sellers to 1,764, generating 3,669 trades in a single day [2]. Short sellers faced pressure, with liquidations on the short side 2.3 times higher than on longs, suggesting over‑leveraged pessimists are being squeezed out [2].

SHIB’s all‑time high of ₹0.008507, reached on 9 September 2021, remains far above today’s price—a 94% drop from that peak [2]. Despite the decline, the token retains a strong community presence, ranking #37 in mentions and activity on social platforms, with a bullish sentiment of 61.26% on Twitter [2]. The ecosystem includes an NFT art incubator and a decentralized exchange called ShibaSwap, positioning SHIB as an Ethereum‑based alternative to Dogecoin [2].

The price uptick and heightened trading volume show that SHIB’s community remains active even as the token trades far below its historic high. Whether the recent trader influx can sustain momentum or simply reflects short‑term speculation will depend on broader memecoin trends and any future developments in the ShibaSwap ecosystem.