'Dogecoin Killer' Shiba Inu Surges 5%: What Is Going On?

by Khyathi Dalal Benzinga Staff Writer

Zinger Key Points

Shiba Inu’s daily transactions have rebounded to 4 million, pushing total on-chain transactions past the 1 billion milestone.
A prominent crypto trader sees SHIB bouncing off a buy wall zone, predicting a potential breakout if sell walls are breached.
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Shiba Inu SHIB/USD is up 5% on Tuesday, with on-chain activity surging and large transactions hitting new peaks.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
Shiba Inu SHIB/USD	$0.00001283	$7.6 billion	+5.5%	-4.7%
Dogecoin DOGE/USD	$0.1711	$25.4 billion	+5.1%	-8.6%
Pepe PEPE/USD	$0.0₅7622	$3.2 billion	+8.7%	-3.9%

Trader Notes: Crypto trader CW highlighted that SHIB is rebounding from a buy wall zone, forming additional sell walls along the way.

The trader suggests that if these sell walls break, SHIB could enter a true bull market.

$SHIB is bouncing back from the buy wall zone.

Also, this decline has created additional sell walls.

If these three sell walls are broken, the real bull market will begin. pic.twitter.com/G4VrpA3N0F
— CW (@CW8900) April 1, 2025

Statistics: Shibarium data shows a significant increase in daily transactions, jumping from 3.2 million to 4 million in a single day.

The 1 billion transaction milestone was achieved in just two years—a remarkable feat compared to Bitcoin's 15-year journey.

Shibarium's official X account emphasized that this milestone was driven by organic community support, not artificial traffic or paid campaigns.

IntoTheBlock data shows SHIB large transaction volume soaring 465.2% in a single day, while daily transactions rose by 69.6%. Transactions greater than $100,000 moved up from 23 to 74.

Community News: Shiba Inu's lead developer, known as Shytoshi Kusama, recently updated his location on X to “Cracking The Chrysalis”, sparking speculation within the SHIB community.

The term "chrysalis" symbolizes transformation of a cocoon stage before a butterfly emerges—hinting at a major upcoming development.

Crypto Twitter is buzzing with speculation that SHIB could be on the verge of a breakthrough, potentially signaling a bullish phase for the meme coin.

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