Shiba Inu (SHIB) rose 35% over the weekend while most major cryptocurrencies saw limited movement, drawing attention to renewed whale activity, higher token burns, and improving on-chain indicators.

The meme coin’s advance came after a previously inactive investor reportedly returned to the market and purchased more than 30 billion SHIB tokens. At the same time, Shiba Inu’s burn rate increased sharply, while exchange reserves declined, adding to trader focus on supply trends and market liquidity.

SHIB Breaks Higher After Weeks of Weak Performance

Shiba Inu began moving higher late Saturday after trading below $0.0000042. Buying pressure pushed the token above $0.0000052, and momentum continued through Sunday as SHIB approached $0.0000058. That level marked its highest price in more than two months.

The rally followed several difficult weeks for the token. In May, SHIB failed to remain above $0.0000067, after which sellers regained control and pushed the price toward $0.000004. That decline left the token’s valuation close to multi-year lows.

Sunday’s recovery helped Shiba Inu return to the top 30 cryptocurrencies by market capitalization. Its market value also climbed above $3.3 billion, according to CoinGecko, reinforcing SHIB’s position as the second-largest meme coin.

Other meme coins also gained during the same session. Dogecoin rose about 5.5%, PEPE advanced roughly 9%, and Memecoin (M) added around 4%. SHIB, however, outperformed the broader meme coin segment with its 35% move. Meme coins often react sharply to changes in liquidity, social activity, and large-holder positioning, which makes whale flows and exchange balances closely watched during sudden rallies.

A key factor cited in the move was renewed whale accumulation. Reports said a previously inactive investor returned after more than six months and spent approximately $125,000 to acquire more than 30 billion SHIB tokens.

Burn Rate and Exchange Reserve Data Draw Attention

On-chain data also contributed to increased market focus on Shiba Inu. The token’s burn rate rose more than 3,200% over the past day, while weekly burns increased by roughly 500%. Those burns permanently removed millions of tokens from circulation.

Token burns are often monitored by SHIB holders because they reduce circulating supply. A lower circulating supply can support stronger price action when demand increases, though price outcomes depend on broader market conditions and trading activity. Burn figures can also fluctuate widely from day to day, so traders typically compare them with volume, liquidity, and holder behavior before drawing conclusions.

Exchange balance data also showed a continued decline in SHIB held on centralized exchanges. CryptoQuant data indicated that fewer SHIB tokens were sitting on exchanges, a trend many traders interpret as a potential reduction in immediate selling pressure.

Technical analysts also pointed to stronger chart conditions. Several market watchers said SHIB had moved above important resistance zones and key trendlines that had previously limited rallies. Such breakouts are commonly watched by momentum traders looking for confirmation of sustained price movement.

Community activity increased alongside the price move. Long-term holders discussed the rally across social media, with some describing it as a reward after years of patient accumulation. Continued participation will depend on whether trading momentum and on-chain trends remain supportive, including whether exchange reserves keep falling and whether SHIB can maintain activity above the levels it recently reclaimed.