Shiba Inu Soars Amid Memecoin Market Rebound

Shiba Inu, the second-largest memecoin by market cap, has surged by nearly 10% in the past 24 hours, according to Coingecko data. Its open interest increased by 30% after a mysterious user burned 1 billion SHIB tokens.

Shiba Inu isn’t the only memecoin doing well, however. According to Coingecko data, the entire memecoin sector has gained approximately 20% in the past week amid a general market rebound after President Trump softened his tariff stance.

Top gainers include SPX, FARTCOIN and GIGA.

Another factor that could be driving the memecoin resurgence is the bullish signals around memecoin exchange-traded funds (ETFs). There have been ETF applications for several memecoins this quarter, including Dogecoin, Pengu, and Bonk, from top asset managers like Canary Capital and Bitwise.

Lucie, a Shiba Inu core team member, also teased the idea of a SHIB ETF in a March 23 X post.

“SHIB is listed on over 110 exchanges with 212 trading pairs—including all the major platforms. It’s basically everywhere: easy to access, easy to trade. Is SHIB good for an ETF? YES. Will boomers invest in a “doggy coin”? Also yes. Because SHIB isn’t just a meme—it’s decentralized, community-driven, and built to last,” Lucie said.