Shiba Inu's 40% Rally Stands on Firm Ground

Shiba Inu's price surged by an impressive 40% over the weekend, but unlike previous meme coin rallies, this one may be more than just a fleeting trend. According to data from CoinGlass, spot inflows into SHIB topped $5 million on Saturday, marking the largest single-day figure in over nine months.

The rally saw trading volume skyrocket to $717 million, an increase of up to 1,245% from prior levels, with South Korean exchange Upbit being a major contributor. The sudden uptick in spot inflows is notable because it suggests actual demand for SHIB rather than just leveraged bets on its price.

The rally has vaulted SHIB into the 25th largest digital asset by market capitalization and has attracted attention from both retail and potentially institutional players, with a $3.12 billion market cap putting it back in range of meaningful interest.