Altcoins News
By Maheen Hernandez
1 / 15
Upbit's SHIB/KRW Pair Moves $62 Million. The SHIB/KRW trading pair on Upbit accounted for roughly $62 million during the rally — that's…
2 / 15
Short Sellers Got Crushed During the Spike. Around $6 million worth of SHIB and 1000SHIB positions got liquidated during the surge, hitting…
3 / 15
Binance's Position and Broader Market Shifts. Separate from the SHIB action, Binance has been holding its ground.
4 / 15
Shiba Inu spiked 36% on Sunday. No announcement. No product launch. Nothing from the team — just a sudden, violent move that added roughly $1 billion to the token's market cap in…
5 / 15
That kind of move with zero news is pretty much the definition of a memecoin moment. SHIB's total market cap landed near $3.
6 / 15
South Korean traders drove a big chunk of it.
7 / 15
The SHIB/KRW trading pair on Upbit accounted for roughly $62 million during the rally — that's over 10% of global SHIB trading volume in a single day, from one exchange, one…
8 / 15
The timing backs it up too. The initial push came late Saturday, then another wave hit during Asian morning hours — consistent with what you'd expect from Korean retail flow.
9 / 15
Other dog-themed tokens didn't really follow. Dogecoin managed a modest 6% gain. Smaller-cap meme tokens rose as much as 10%.
10 / 15
Read also: Shiba Inus Shytoshi Kusama Goes 74 Days Dark on X as SHIB Burns Climb
11 / 15
Worth being clear about the order of events: the liquidations followed the price increase, they didn't cause it.
12 / 15
SHIB was launched in August 2020 by an anonymous developer who went by Ryoshi. It was marketed from day one as a "Dogecoin killer," which is a bold claim for a token that had no…
13 / 15
Separate from the SHIB action, Binance has been holding its ground. The exchange controls approximately 55% of user funds and about 24% of spot trades.
14 / 15
See also: Shiba Inu Hits 100 Trillion SHIB in Circulation as Oversupply Pressure Mounts
15 / 15
That kind of market concentration matters for tokens like SHIB. When Binance moves, it moves markets.
The Currency Analytics
Want the full story?