Overview
- SHIB rose about 35–36% on Sunday, adding roughly $1 billion in market value and lifting its market capitalization to near $3.4 billion on unusually high turnover.
- Most of the trading came through Upbit’s SHIB/KRW market, which accounted for more than 10% of global volume and traded at a slight premium to dollar venues, pointing to a Korea-centered retail buying wave.
- On-chain trackers recorded a dormant large holder re-entering with an order reported around $125,000 to buy roughly 30 billion SHIB and a dramatic spike in reported token burns over a 24‑hour window.
- Short sellers lost about $6 million across roughly 2,300 positions during the second leg of the rally, and those liquidations followed the price rise rather than appearing to start it.
- There were no project announcements or fundamental developments to explain the move, underscoring how regional retail flows, tokenomics signals and market mechanics can create sharp, idiosyncratic volatility in memecoins.