Shiba Inu’s price jumped 36%, fueled by a sharp increase in buying from South Korean retail traders. This memecoin reached a trading range between $0.0000043 and $0.000005, driven largely by activity on South Korea’s top crypto exchange, Upbit.
Trading Volume and Market Dynamics
Upbit reported about $4.25 million in Shiba Inu trading volume during March 2026, nearly matching Binance’s $4.36 million for the same period. South Korean retail investors, known for their enthusiasm toward meme tokens, have caused liquidity spikes that influence global markets. These traders, nicknamed “ants” for their collective swarm-like behavior, maintain a strong presence in crypto and traditional stock markets. Shiba Inu’s circulating supply currently stands at a staggering 585 trillion coins.
The recent 36% rally follows a 25% increase around July 25, showing this move is part of a larger momentum trend rather than a one-day event. Similar price jumps occurred in November 2024, aligned with technical indicators like the golden cross, where short-term moving averages crossed above long-term averages.
Market Behavior and Risks
On-chain data reveals that whales have been accumulating SHIB in recent weeks, while development on the layer-2 Shibarium network continues in the background. However, memecoins’ market share compared to Bitcoin has been shrinking in 2026, signaling a shift toward assets seen as more fundamentally solid.
Trading patterns show more tactical moves than before, with fluctuating inflows and outflows from exchanges suggesting traders are quick to capitalize on rallies and take profits sooner. The heavy concentration of Shiba Inu’s trading volume in South Korea adds a layer of risk: any regulatory changes or shifts in local sentiment could cause rapid sell-offs that global fundamentals might not justify. South Korean regulators have previously stepped in to regulate crypto markets, adding further uncertainty.
