SHIB holds its weekend gain as whales move at the top

Shiba Inu ($SHIB) is holding most of its weekend surge, sitting at $0.0000049968 after easing 3.35% on the day. The token is still up 17.12% on the week and has climbed back to rank 26 by market capitalisation, a notable recovery for a token that had been largely quiet in recent months.

Whale activity spiked at the top

On-chain analytics firm Santiment logged 52 whale transactions above $100,000 in a single day during the rally, the most in a single session since March 31. Social dominance for @Shibtoken also hit 0.084%, its highest reading since April 2, according to Santiment data cited by Cryptonews.

The timing is worth noting. That spike in crowd attention arrived after the sharpest part of the price move had already stalled, a pattern consistent with larger holders distributing into retail buying pressure. The whale transaction metric tracks transfer size rather than direction, so it captures the scale of flow without confirming intent to sell or accumulate.

Korean exchanges led the move

Shiba Inu jumped roughly 36% to around $0.0000057 over the weekend, adding approximately $1 billion in market value in a single day, with its daily trading volume reaching its highest turnover ranking in months. No project announcement or ecosystem development accompanied the move.

Upbit's SHIB/KRW pair was the single largest market at approximately $62 million, accounting for over a tenth of global volume, and it printed at a slight premium to Binance and other dollar venues. Korean retail investors have historically shown an attraction to meme-based tokens, creating liquidity spikes that ripple across global markets. Other dog-themed tokens did not follow SHIB higher, suggesting the move was concentrated rather than a broader meme coin rotation.

About $6 million in SHIB and 1000SHIB positions were liquidated across roughly 2,300 traders, with approximately $5 million of that coming from short positions. Those liquidations followed the price higher rather than causing it, and at that size they cannot explain a move of this scale.

For now, $SHIB is digesting the weekly gain. Whether retail demand holds or larger holders continue to reduce exposure into strength remains the key question heading into the next trading session.

Sources:
CoinDesk: Why is SHIB up 35%? Shiba Inu rockets higher as South Korean traders lead mystery rally
Crypto Briefing: Shiba Inu surges 36% as South Korean traders fuel rally
The Crypto Basic: Dormant Shiba Inu Whale Ends Seven-Month Silence With 30 Billion SHIB Purchase From Binance