Why is Shiba Inu up today?

Shiba Inu is up 2.9% over 24 hours at $0.000006, a $3.41B market cap, outperforming a flat Bitcoin and extending a 13.4% weekly run. The move is mostly a continuation of the memecoin's broad-based rebound: SHIB registered a 24% weekly rally on the back of a market-wide resurgence, cleared a technical barrier that had capped its recovery for months on 534 billion tokens traded in a day, and closed what analysts called its most bullish Q3 on record.

Today's bid is being tied to exchange flows, with roughly 74 billion SHIB in netflow pointing to accumulation rather than selling pressure. That follows a volatile session in which SHIB gave back most of a breakout in a 10% reversal that put the 200-day moving average back in play — consistent with the 0.8% dip over the last hour.

The backdrop is mixed: Bitcoin is unchanged on the day amid a $350 million exploit of Bitget wallets, new Federal Reserve stablecoin proposals under the GENIUS Act, and 30-year Treasury yields at 5.44%, the highest since 2004.