TL;DR:
- Shiba Inu (SHIB) recorded a 6.76% increase in 24 hours, reaching a price of $0.00000477.
- Ethereum and Bitcoin outperformed the meme token during the same session with gains of 17.8% and 8.1%, respectively.
- SHIB’s trading volume stood at $104 million in the last 24 hours, remaining 61.2% below its year-over-year value.
During Thursday’s trading session, Shiba Inu rebounded by 6.76%. Despite this recovery, the memecoin lagged behind the broader crypto market rebound.
The project’s official team publicly attributed the upward movement to social media activity from its community of followers. According to a market report, their official account on X posted that short sellers fled in the face of buying pressure.
Bears saw ethereum:0x95ad61b0a150d79219dcf64e1e6cc01f0b64c4ce coming and chose cardio. pic.twitter.com/V58zA9ED11
— Shib (@Shibtoken) August 19, 2026
However, broader market metrics indicate that the move was driven by macroeconomic factors rather than internal token dynamics.
The total crypto sector market capitalization reached $2.34 trillion during the session, representing a 9.32% gain from the low recorded the previous day. In the same timeframe, Bitcoin (BTC) rose 8.1% to reach $69,515, while Ethereum (ETH) advanced 17.8% to hit $2,251 per unit.
The price recovery was fueled by the liquidation of $1.23 billion in short positions in a single hour following political announcements in the United States. Other alternatives in the meme sector and Layer 1 networks outperformed SHIB in daily performance. Solana (SOL) added 10.2% and Pepe (PEPE) surged 13.8% during the same analysis period. Meanwhile, Dogecoin (DOGE) recorded a parallel rise of 6.8% without rolling out additional community campaigns.
Divergence between on-chain metrics and community posts
Despite the positive daily balance, SHIB’s historical data reflects a steep gap compared to its previous highs.
The asset is trading 61.2% below the levels seen exactly one year ago. In addition, the price of $0.00000477 sits roughly 94% below its all-time high of $0.00008616 reached in October 2021.
Trading liquidity reflected caution among spot and derivatives market traders. The $104 million traded over the last 24 hours places Shiba Inu at rank 33 in the overall market cap leaderboard.
Market data suggests that the current volume remains moderate compared to previous periods of high volatility in memecoins. The statistical correlation between social media posts and actual spot price lacks verifiable technical support. A similar event occurred in late July, when community narratives coincided with a weekly rebound of nearly 22%.
Price analysis for August indicates that the $0.00000548 level stands as the primary technical resistance zone. This threshold rejected upward attempts during the previous month and will shape the asset’s trajectory across weekly session closes.