SHIB Squeezes Past $0.000005 on $3.1 Billion Bitcoin Rally

The recent surge in SHIB's price can be attributed to a combination of factors, including the weakening US dollar and increased institutional interest in Bitcoin.

According to finance.biggo.com, the catalyst for this rally was a pivot in the US bond market, where the 30-year Treasury yield climbed to a 19-year high before the Treasury Department announced it would double its long-dated bond buyback operations. This move weakened the dollar and eased pressure on risk assets, leading to a surge in Bitcoin's price from $64,100 to nearly $79,500, generating $3.1 billion in short liquidations.

SHIB had been quietly building up to this moment for weeks, with 740 large whale wallets pulling approximately 46.7 billion tokens off Binance and Robinhood over the span of days, reducing exchange reserves and creating a bullish technical setup.