Shiba Inu token surges over 30% as South Korean traders drive sudden rally

The Shiba Inu (SHIB) cryptocurrency rose sharply in the past week, gaining between 22% and 36% without any clear news catalyst. South Korean exchange Upbit accounted for a large share of the activity, with the SHIB/KRW pair representing more than one‑tenth of global volume and pushing daily turnover near $380 million. Analysts note that a handful of large wallets control most of the token’s supply, allowing a few actors to sway the price.

The price climbed to roughly $0.0000057, adding about $1 billion to market capitalization. Despite the rally, trading volume fell about 18% from the previous day, and observers caution that a further move to $0.00001 would require roughly a 100% jump. The surge appears isolated to memecoin markets, with Dogecoin and PEPE showing much weaker gains.