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Shiba Inu (SHIB) returns to #31 as Coinbase transfers 1.16 trillion tokens internally, daily volume falls to $50‑70 M and price tests $0.00000504 support.
Shiba Inu (SHIB) surged back to the 31st spot in the crypto market rankings after Coinbase shifted 1.16 trillion SHIB across three newly created internal wallets, a move that did not touch the spot market order book【1】. The shift coincides with a halving of daily trading volume and a price bounce that could signal easing selling pressure, a key concern for traders monitoring the meme‑coin’s long‑term trajectory.
| At a glance | |
|---|---|
| Price | $0.00000504 (key support) |
| 24h % Move | –4.71% (down) |
| Daily Volume | $50‑70 M (down from ~$100 M) |
| Catalyst | Coinbase internal transfer of 1.16 trillion SHIB【1】 |
Arkham Intelligence data shows Coinbase moved 573 billion, 242 billion and 348 billion SHIB from an unmarked wallet into three fresh addresses, all without any on‑exchange trades【1】. Crypto analyst LuckSide Crypto described the activity as routine custody management, not a sell‑off signal, and noted that overall exchange‑held supply is declining—a trend he views as “long‑term constructive”【1】. The internal shuffle helped SHIB climb from a low of 33rd back to 31st, suggesting that the market’s perception of supply pressure may be softening.
SHIB’s 24‑hour trading volume has slipped from roughly $100 million to a range of $50‑$70 million, while price has been largely sideways【1】. The MACD indicator sits above its signal line with a positive histogram, an early sign that downside momentum may be weakening even though the token remains in a bearish SMA hierarchy (20‑day below 50‑day below 200‑day)【1】. Whale wallet counts are rising despite the flat price, a pattern historically linked to accumulation phases rather than fresh breakdowns【1】. The token’s recent lows are among its most oversold readings, comparable only to August 2024【1】.
South Korean exchanges, especially Upbit, have contributed to a recent rally that lifted SHIB’s weekly performance above 22% and generated $500 million of trade flow in the past 24 hours【2】. Open interest in SHIB futures jumped 64% over the same week, indicating heightened speculative activity【2】. Looking ahead, the Clarity Act Senate floor vote, the upcoming FOMC meeting, and the PCE inflation report are flagged as potential volatility drivers for the broader crypto market and could influence SHIB’s next directional move【1】.
The rebound to #31 underscores that internal token movements and shifting volume dynamics can reshape market rankings without direct price action. Whether SHIB can sustain the easing of selling pressure remains tied to broader macro events and on‑chain accumulation signals.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 4 outlets · Jul 29, 2026 · How we report
The rise was driven by record token burns on the Woof Swap V3 launchpad and a broader crypto market recovery, with high trading volume supporting the move.
The surge was linked to heavy buying by South Korean traders on Upbit, with short‑seller liquidations following the price rise rather than causing it.
Santiment data shows increased whale transactions, suggesting some large holders are exiting, while exchange supply has remained relatively stable.
SHIB remains in a bearish trend with moving averages aligned downward, but MACD signals a potential easing of downside pressure.
Analyst LuckSide Crypto described the transfer of 1.16 trillion SHIB across new wallets as routine custody management, not an indication of selling.