# Shiba Inu jumps 36% as South Korean traders drive rally

**Published:** 2026-08-02T09:50:33.182Z  
**Topic:** Shiba Inu  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/0a0f75c3-16c2-405c-a9f9-cb3aa89f9e99

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 |

## South Korean buying fuels the price jump  
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.  

## On‑chain signals suggest continued upside potential  
More than 1 trillion SHIB tokens have been withdrawn from centralized exchanges, indicating holders are moving assets off‑exchange rather than selling them【2】.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 |

## What to watch  
- **$0.00000494** – breach of the recent low could trigger further selling.  
- **$0.0000060** – a decisive close above the 200‑day EMA would signal a new short‑term high.  
- **Future exchange outflows** – continued net withdrawals would reinforce holding sentiment.  

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.

## Sources
1. Benzinga — [Dogecoin, Shiba Inu Extend New Year Gains, But These... - Benzinga](https://www.benzinga.com/crypto/cryptocurrency/26/01/49896100/dogecoin-shiba-inu-extend-new-year-gains-but-these-memecoins-have-stolen-the-show-in-2026)
2. Invezz — [Can Shiba Inu coin price extend its rally as 1T tokens leave exchanges?](https://invezz.com/news/2026/07/27/can-shiba-inu-coin-price-extend-its-rally-as-1t-tokens-leave-exchanges/)
3. CoinDesk — [Shiba Inu surges 36% as South Korean traders fuel mystery rally](https://www.coindesk.com/markets/2026/07/26/shiba-inu-surges-36-as-south-korean-traders-fuel-mystery-rally)
4. Tradingview — [Shiba Inu Extends Price Rally Amid 237... — TradingView News](https://www.tradingview.com/news/u_today:f07f1e2dd094b:0-shiba-inu-extends-price-rally-amid-237-surge-in-burn-activity/)

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Cite as: TrendWatcher, "Shiba Inu jumps 36% as South Korean traders drive rally", https://www.trendwatcher.in/article/0a0f75c3-16c2-405c-a9f9-cb3aa89f9e99