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While the biggest and probably the most popular meme cryptocurrency, Dogecoin (DOGE), is experiencing the launch of the first-ever spot ETF with direct exposure, its counterpart and the second-biggest meme cryptocurrency, Shiba Inu (SHIB), demonstrates a market anomaly worth a headline on its own.
Thus, despite the turbulence on the crypto market, the price of SHIB today is seeing a rare uptick not only against the dollar but also against the leading market benchmark, Bitcoin, with Shiba Inu coin quotes up 2% against BTC right now. No ETF headlines, no sudden bull narrative — just the price of SHIB shining green in a "sea of red."
The meme coin is not a rookie when it comes to being the unexpected dark horse of the market, with its whole history since 2021 being proof of this. However, in today’s market reality, this deserves scrutiny.
Something similar happened in March 2024, when the price of SHIB suddenly rose by as much as 400% in the span of a week, putting it close to levels last seen four years ago. While today’s price action is far from such a record, it may be an early sign that the Shiba Inu coin could experience an end-of-year rally known as a “Santa rally” on financial markets.
What's going on with SHIB today?
It simply does not happen out of nowhere that an asset with a $4.72 billion market cap and $136 million in daily turnover demonstrates strength against more popular coins. So, quite possibly, some sort of hidden accumulation or manipulation is currently happening behind the scenes with the Shiba Inu coin.
Do not forget that there are big market makers directly involved in SHIB trading, and despite many retail investors showing little-to-no interest in the coin, it still has enough liquidity and presence on the biggest exchanges to put it in the spotlight and create a bull cycle of its own.
With this rare strength in play today, SHIB is definitely the coin to watch as 2025 draws to an end.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team