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Crypto

Shiba Inu Surges 36% in One Day Driven by South Korean Traders

Guavy AI Editorial Team
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SHIB
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Shiba Inu's price surged by a significant 36% in just one day, adding approximately $1 billion to its market capitalization. This impressive jump was mainly driven by massive buying activity from South Korean traders on Upbit, with over $62 million invested in the token.

The SHIB/KRW pair traded at a premium, indicating strong local demand for Shiba Inu. This rally also led to around $6 million in short positions being liquidated, further intensifying the price increase.

Despite the substantial surge, Shiba Inu's price remains far below its 2021 peak, highlighting the influence of regional retail trading on global crypto markets.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment advisor. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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