Shiba Inu surged nearly 40 percent in a day, adding about $1 billion to its market value.

On the 26th (local time), blockchain media outlet U.Today reported that Shiba Inu rose as high as $0.00000582 in intraday trading on Sunday, reaching a market value of $3.12 billion. It also climbed to 25th in the cryptocurrency market-cap rankings. The rally drew attention because it came without any separate announcement or development news.

The price rise was also steep. Shiba Inu jumped to $0.00000518 from a low of $0.00000417 last Saturday and broke above its 50-day moving average (MA), which had capped the upside since mid-May. It then extended gains on Sunday, pushing the high up to $0.00000582.

Trading volume also surged. Its 24-hour volume rose 12.45-fold to $717 million. That is seen as funds flooding in at once to target sharp price swings.

Still, the market has yet to identify a clear catalyst. Shibarium, Shiba Inu's layer-2 (L2) blockchain, saw an increase in transactions, but overall activity remained relatively quiet. On the 25th, Shibarium's daily transaction count rose 152 percent to 2,780 from 1,100.

Kuro (구로), a figure in the Shiba Inu community, said on X, formerly Twitter, that "Shiba Inu is back where it belongs." He said Shiba Inu is drawing attention again and that "the whole world is watching Shiba Inu." He added, "The next destination is higher."

Interest indicators also rose. Shiba Inu ranked No. 1 on CoinMarketCap as the most watched cryptocurrency.

Shiba Inu's gains stood out even compared with other meme coins. Dogecoin rose 6 percent, while smaller tokens by market value, including Pepe Coin, were up as much as 10 percent on the day. That suggests flows were more concentrated in Shiba Inu than in broad rotation buying across meme coins.

Buying in the South Korean market also stood out. On Upbit, Shiba Inu ranked among the top coins by trading value, with SHIB/KRW volume tallied at $68.99 million. After the initial rise began late Saturday, the price moved sideways for about 9 hours, then surged again during the Asian morning session.

The near-term focus is whether the inflow of funds that drove the surge will continue. So far, the move is seen as being lifted by expanding volume and buying in specific markets, rather than by an official announcement or clear development catalysts. If additional buying does not follow, the possibility remains that short-term profit-taking pressure will grow.