Shiba Inu caught many off guard with a remarkable weekend jump. From Friday's low of $0.00000421, it climbed nearly 39% by Sunday morning, touching $0.00000583. This was a level not seen since May, marking Shiba Inu as the top performer among the 50 largest cryptocurrencies.
The surge wasn’t just random hype. Most of the buying activity happened on Saturday, especially in the spot markets, where over $5 million flowed in marking the largest single-day spot inflow in more than nine months. South Korean exchanges played a significant role in this influx, highlighting regional interest behind the move.
Before the rally, Shiba Inu had been consolidating near historic lows after months of decline. Its Relative Strength Index (RSI) hinted at rising bullish momentum, signaling growing demand and accumulation by investors. The sudden liquidity injection acted as a catalyst, pushing the price abruptly higher without much opposing pressure.
Despite the sharp gain, the price pulled back to around $0.00000512, reflecting profit-taking as the coin became overbought according to the RSI. This kind of retracement after quick jumps is typical, especially in uncertain markets.
Looking ahead, the strength of Shiba Inu's rally is tempered by mixed signals. While its spot market showed vigorous activity, derivatives data pointed to a modest open interest. also a spike in negative funding rates suggests traders expect some short-term correction.
Still, the weekend's performance demonstrated how spot positioning can power sudden rallies even for meme coins. These dynamics echo broader crypto trends, as market participants weigh spot liquidity against derivatives positioning to gauge where prices might head next.
This material is for informational purposes and should not be considered financial advice.
