South Korean buying pressure could push SHIB to a 36% single-day gain, adding roughly $1 billion to its market capitalization.

SHIB rose approximately 36% on Sunday, climbing to $0.0000057, adding around $1 billion to its market cap in a single day. Its current market capitalization stands at roughly $3.4 billion, with 24-hour trading volume near $380 million, and trading activity has hit multi-month highs. There is no clear fundamental catalyst for the rally. Shibarium did not release any related announcements, and other meme coin peers lagged significantly: DOGE rose about 6% over the same period, while smaller-cap meme tokens saw maximum gains of around 10%, indicating capital concentrated in SHIB rather than a broad-based meme coin sector rally. South Korean buying pressure was prominent: Upbit’s SHIB/KRW trading pair recorded around $62 million in turnover, making it the world’s largest single trading market, accounting for over 10% of global volume, with a small price premium over USD-denominated trading venues like Binance. SHIB’s rally began on Saturday evening, consolidated for roughly 9 hours, then saw a second surge during Asian trading hours. During the rally, positions of approximately 2,300 traders in SHIB and 1000SHIB were liquidated, with total liquidations reaching around $6 million, of which roughly $5 million were short positions. However, these liquidations occurred after the price rally and were not large enough to explain the 36% gain.