Shiba Inu (SHIB) surged 36% in one week, reaching $0.0000057 and adding nearly $1 billion to its market capitalization. Daily trading volume approached $380 million, its highest level in several months. Most of the volume originated from South Korean exchange Upbit, where the SHIB/KRW pair accounted for over 10% of global volume. The move remains mysterious with no major announcement to justify it, though the extreme concentration of the token (fewer than 1,000 wallets control the majority of supply) and a dormant wallet purchasing over 30 billion tokens offer possible explanations.
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