Shiba Inu rose 36% to about $0.0000057 on Sunday, adding about a billion dollars to its market cap in one day, with no announcement or development to explain it.
The token now has a market cap near $3.4 billion on nearly $380 million of daily volume, its highest turnover position in months.
Nothing has emerged from Shibarium, the network’s layer-2, and the wider dog-token complex has lagged. Dogecoin gained 6% during the same stretch, and smaller-cap tokens moved as much as 10%, pointing to something specific to SHIB rather than a rotation to memecoins.
South Korean purchases stand out. Upbit’s SHIB/KRW pair is the largest single market at around $62 million, over a tenth of global volume, printing a small premium to Binance and the other dollar venues.
The country’s traders are known for driving exuberant rallies in high-volatility tokens, and the token’s rise fits that pattern, with an initial push late Saturday, nine flat hours, then a second move through the Asian morning.
