SHIB Jumps 35% to $0.0000058 as 2.4 Trillion Tokens Hit Exchanges in 24 Hours

Shiba Inu (SHIB) jumped as much as 35% in a single session, climbing from below $0.0000042 to a two-month high near $0.0000058, while roughly 2.4 trillion tokens flowed onto exchange wallets over 24 hours. The move pushed SHIB’s market capitalization above $3.3 billion, returning it to the top 30 cryptocurrencies by that metric and reinforcing its position as the second-largest meme coin behind Dogecoin.

The spike happened on what traders described as an otherwise quiet weekend, with most of the broader market trading sideways. Other meme tokens rode the wave too — PEPE gained around 9% and DOGE added roughly 5.5% — but SHIB’s percentage move stood well above the pack.

Gross inflows dwarf the actual net move

On-chain data shows exchanges received about 2.399 trillion SHIB during the 24-hour window, a figure that on its own looks like a massive wave of selling pressure. But roughly 2.376 trillion SHIB left those same trading platforms over the same period, leaving a net inflow of only about 23 billion tokens — a tiny fraction of the headline number.

That gap matters for anyone reading exchange-flow dashboards at face value. The gross figure reflects total transfers into tracked wallets — the combined activity of traders, market makers and large holders repositioning during the rally — rather than a single actor dumping billions of tokens onto order books. No evidence points to one identifiable whale behind the full 2.4 trillion SHIB deposit.

A returning whale and a fading price ceiling

Separately, on-chain trackers flagged a SHIB whale resuming accumulation after more than six months of inactivity, spending roughly $125,000 to pick up over 30 billion tokens. While that purchase is small relative to the trillions moved across exchanges, it lines up with the timing of the broader rally and has drawn attention as a possible catalyst alongside the wider inflow activity.

The rally also puts SHIB’s recent price history in sharper focus. The token was rejected near $0.0000067 in May, and the correction that followed dragged it down to around $0.000004 — a multi-year low. The latest bounce to $0.0000058 marks the token’s best level in just over two months, though it remains well below its spring high.

Why it matters for holders

For SHIB holders and traders, the episode is a reminder that headline exchange-inflow numbers can overstate real selling pressure when outflows nearly match them. With net exchange balances up only marginally despite trillions in gross transfers, the price move looks driven more by renewed buying interest — including the returning whale — than by a coordinated exodus toward exit liquidity. Meme-coin volatility of this size, unusual after months of subdued trading in the sector, also underscores how quickly sentiment can flip once a single large token starts moving.

Sources

• u.today
• cryptopotato.com