SHIB’s 36% Weekend Surge: Korean Traders and Dormant Whales Are Pulling the Strings (Not Just Luck)

Posted on by

(SeaPRwire) –   By: Lucas Caldwell

SHIB’s 36% weekend spike didn’t come from a big announcement or new feature. It was a perfect storm of regional trader activity and whale signals that caught the market off guard. Most crypto assets were flat that weekend, but SHIB broke out—hitting its highest price in two months. This isn’t random; it’s a lesson in how niche player behavior can move even memecoins like SHIB, which launched in 2020 as an Ethereum-based project.

The raw numbers tell a clear story. SHIB jumped from below $0.0000042 to $0.0000057, adding $1 billion in market value. South Korea’s Upbit exchange handled over 10% of global SHIB volume, with its KRW pair trading at a slight premium to Binance. A dormant whale returned after six months, spending $125k to buy 30 billion tokens—enough to signal confidence to other buyers.

Burn rates also spiked: 3200% in 24 hours, with weekly burns up 500%. Exchange supply data from CryptoQuant shows SHIB holdings on exchanges are falling, meaning more tokens are moving to private wallets. This supply squeeze, combined with buying pressure, fueled the rally. Short sellers lost $5 million in liquidations across 2300 traders, amplifying the upward move.

Compare SHIB to other memecoins: Dogecoin rose just 6%, PEPE 9%. No broader memecoin rotation explains this surge. Korean traders have a history of driving sharp rallies in volatile tokens, and the two-stage price action—late Saturday push then Asian morning spike—fits their trading patterns perfectly. This isn’t a fluke; it’s a regional play.

SHIB faced resistance at $0.0000067 in May, which triggered a correction to near $0.000004 (a multi-year low then). The current rally is testing that previous resistance level. The combination of whale accumulation, burn rate increases, and Korean volume suggests this isn’t a short-term pump-and-dump—though profit-taking could hit once it reaches key levels.

SHIB’s next move hinges on whether the Korean volume and whale confidence can sustain momentum past May’s $0.0000067 resistance before sellers step in.

Author bio: Lucas Caldwell, a tech opinion leader with millions of followers on X/Twitter, analyzes crypto market trends and retail trader behavior.