SHIB has already pulled back now, but I’m still thinking about that move from the other day. I read an article saying SHIB jumped around 36% without any obvious announcement behind it. Korean volume seemed to be doing a lot of lifting. Upbit’s SHIB/KRW pair was more than a tenth of global volume and even traded at a slight premium, while DOGE only moved around 6%.
The short liquidations were interesting too, but the article made it sound like they followed the move rather than caused it. That made the candle feel more like spot-driven demand, even if the reason behind it was still pretty unclear.
When a friend messaged me saying SHIB was ripping, I remembered I might still have a little SHIB left on bitget and bydfi. I waited until the price was back around my break-even point, then sold them all instead of chasing because the price felt crazy at the time.
Curious how everyone thinks SHIB plays out from here after this pump and the pullback that followed. What would you need to see next to feel like the move still has legs?