SHIB Surges 35 Percent as Whale Returns and Token Burns Spike

While most of the crypto market stayed quiet over the weekend, Shiba Inu surprised traders by shooting up by 35 percent. The popular meme coin climbed from below the $0.0000042 mark up to $0.0000058, hitting its highest price in over two months. This strong move pushed its total market value past $3.3 billion, securing its spot as the second largest meme coin behind Dogecoin.

Several on chain factors helped fuel the sudden price jump. Market tracking shows a major whale returned after six months of silence, spending $125,000 to buy over 30 billion tokens. At the same time, the daily token burn rate shot up by more than 3,200 percent, reducing the total supply of coins in circulation. Data also shows that exchange reserves have dropped over the past few weeks, meaning fewer tokens are currently available for immediate sale.

Traders are now watching to see if this momentum can hold up across the wider altcoin sector. While other meme coins like PEPE and DOGE posted smaller gains, SHIB led the pack with its breakout. Analysts point out that clearing key resistance lines played a big role, but keeping an eye on future whale activity and burn rates will be crucial for the next price direction.