Shiba Inu's price surged about 36% to $0.0000057, adding roughly $1 billion in market value in a single day without any new announcements or developments. The rally was mainly fueled by South Korean traders on the Upbit exchange, where the SHIB/KRW trading pair accounts for over 10% of global volume and trades at a slight premium. This surge is notable because other dog-themed tokens like Dogecoin only gained modestly, indicating the move is specific to SHIB rather than a general meme coin rally. Despite liquidations of short positions following the price increase, these were not the cause of the rally. Shiba Inu, launched in 2020 as a meme coin, has since developed a layer-2 network called Shibarium but still largely trades on retail sentiment rather than fundamental developments.
During a recent market sell-off, Shiba Inu (SHIB) showed relative strength by falling less than Bitcoin, trading around $0.0000043 compared to Bitcoin's drop below $69,000. Despite this, SHIB's price remains below critical moving averages and near it...
Following the October 29 hack, Binance announced it holds 100.04% of Shiba Inu tokens against customer balances, signaling full backing but pending cryptographic proof. Despite this, SHIB's price fell to its lowest point in 90 days at $0.00000425, do...
SHIB topped the Korean crypto interest index with 86.1 points, showing strong domestic trading concentration despite a week of losses among the top tokens. WLD had the highest ratio of domestic to overseas trading at 21.3 times, followed by ONDO and ...
Shiba Inu's futures market on OKX showed a negative funding rate for the first time since early November, indicating more short sellers paying fees to longs as the price dropped to its lowest since July. Despite 70% of accounts betting on price rises...
Shiba Inu (SHIB) price fell to $0.0000043, down 3.7% following the surprise resignation of Nvidia CEO Jensen Huang, which caused Nvidia shares to drop around 12-13% and dragged down technology stocks and the crypto market. Bitcoin also fell 3.5%, ref...
