SHIB Explained: Shiba Inu's Volatility, Sessions and Key Levels

What is Shiba Inu? SHIB is a dog-themed meme token on Ethereum with no maximum supply listed by CoinGecko, a large share of it parked at dead addresses, and an ecosystem built around it: the ShibaSwap exchange, a layer 2 called Shibarium and two sibling tokens, LEASH and BONE. For a trader the working fact is how it moves: over the 90 days to 24 October 2026 SHIB's average daily range was 5.58%, 2.0 times Bitcoin's 2.76%, and one day (21 August) gained 19.6% while BTC rose 7.3%.

Every number below is computed from dated Binance data or taken from a source we fetched on 25 October 2026.

What is Shiba Inu and what is in its ecosystem

CoinGecko's project description calls Shiba Inu "a decentralized, community-led cryptocurrency ecosystem built on the Ethereum blockchain" that started as a meme-based project. It lists the ecosystem pieces (checked 25 October 2026):

• ShibaSwap: the project's own decentralized exchange, where users trade, provide liquidity and earn rewards.
• Shibarium: a layer 2 scaling solution meant to make transactions faster and cheaper than on Ethereum itself.
• Three tokens: SHIB is the main currency, LEASH is described as a scarcity-based incentive, and BONE is the governance token (voting through the Doggy DAO) and the gas token of Shibarium.

We could not open the project's own site (shib.io) or documentation on 25 October: both returned HTTP 530 errors from our servers. So we state only what CoinGecko says, and we give no Shibarium usage, fee or burn-programme numbers, because we have no source for them. The SHIB contract is a token on Ethereum with 18 decimals; we read it directly (see the supply section). For the chain it runs on, see our Ethereum guide.

CoinGecko files SHIB under Meme, Ethereum Ecosystem and Dog-Themed, among others. Its market cap on 25 October was $2.86 billion, rank 36, and its price was 94.4% below the CoinGecko all-time high of $0.00008616 set on 27 October 2021.

SHIB price analysis: the 90-day fingerprint

SHIB trades in tiny prices (about $0.00000486 on 25 October), so we read it as percentages. We took every 1h SHIBUSDT candle on Binance from 27 July to 24 October 2026 (2,160 candles) and averaged the high-to-low range of each UTC hour.

• Average daily range: 5.58%, against 2.76% for Bitcoin over the same 90 daily candles. The median SHIB day was 5.04% (BTC 2.42%). 79 of 90 days (88%) ranged above 3%, 47 days (52%) above 5% and 6 days (7%) above 10%.
• Busiest hour: 14:00 UTC (17:00 MSK), averaging 1.61% per hour, then 15:00 (1.45%) and 16:00 (1.35%). Without 21 August, 14:00 is still first at 1.59%.
• Quietest hours: 20:00, 23:00 and 11:00 UTC at 0.93%, 0.95% and 0.96% (23:00, 02:00 and 14:00 MSK). The peak is 1.7 times the quietest hour.
• By session (our UTC buckets): 13:00 to 21:00 averages 1.23% per hour, against 1.16%, 1.11% and 1.06% for the other three. That window also holds 37.4% of the 90-day dollar volume (candle volume times close), against 33.3% if volume were even.

The busy window is the European afternoon into the US open. The trading sessions tool shows those hours in your time zone, and the best time to trade crypto study uses the same method.

By UTC weekday, Friday was widest at 7.17% average range, then Wednesday (5.81%) and Monday (5.62%). Sunday was narrowest at 4.52%. Weekend days averaged 4.97% against 5.81% on weekdays (see weekend crypto trading). The Friday number leans on one day: without 21 August Friday falls to 5.58%.

One technical detail matters for a coin this cheap. Its smallest price step is $0.00000001, about 0.2% of the 24 October close of $0.00000493. Hourly ranges therefore move in steps of roughly 0.2%, and quiet hours look more alike than they are.

The 21 August spike and the other big days

• 21 August 2026: SHIB opened at $0.00000494, reached $0.00000622 and closed at $0.00000591 (+19.6%), a 26.3% range, on 2.5 times its 30-day average volume. BTC rose 7.3%. The move was not one candle: by 21:00 UTC SHIB had already climbed 10.3% on the day to $0.00000545, and the 21:00, 22:00 and 23:00 UTC candles then ranged 4.95%, 10.42% and 6.98%.
• 22 August: SHIB fell 7.8% (BTC -1.6%) on a 17.0% range. A week after the spike, on 28 August, it closed at $0.00000518, 12.4% below the spike close.
• 21 September: SHIB gained 10.2% (BTC +6.7%) on a 12.4% range and 2.7 times average volume, then closed 6.1% lower a week later. On 23 September it fell 7.7% (BTC -2.1%).
• 7 October: SHIB lost 6.2% while BTC lost 2.6%.

We attach no news to these days, because we have no dated source for one. The data says that SHIB can move 20% in a day while BTC moves a third of that, and that the gain partly reverses within a week.

SHIB supply and the burn

SHIB has no maximum supply on CoinGecko, so the useful numbers are what sits where. We called the SHIB contract on Ethereum through a public RPC node on 25 October 2026 (block 26,269,013, 10:11 UTC) and read CoinGecko the same morning.

• Contract total supply: 999.98 trillion SHIB.
• Dead addresses: the address 0xdEaD000000000000000042069420694206942069 holds 410.44 trillion SHIB, 41.0% of that supply. The more common dead address, 0x000…dEaD, holds a further 49.5 billion (0.005%).
• CoinGecko: 589.24 trillion circulating and 589.50 trillion total. Our subtraction (contract supply minus both dead addresses) gives 589.50 trillion, so CoinGecko's total supply excludes those two addresses exactly.
• Market cap: $2.86 billion; fully diluted valuation also $2.86 billion, since CoinGecko counts almost the whole total as circulating.

A May 2021 FXStreet report says Vitalik Buterin sent "over 410 trillion SHIB" to a dead wallet address. The report does not name the address, and we did not trace the transaction. The size matches the 410.44 trillion we found at the 0xdEaD…2069 address, so the match is likely, not proven. We have no source for the original supply, so we make no claim about it, and we cannot size the burns that came later. Anyone can verify the balances above on a block explorer such as Etherscan's SHIB page.

For trading, the point is that tokens at a dead address are out of reach, so the 589 trillion circulating figure is the one that sets the market cap. Fully diluted value and market cap are nearly the same here ($2.86 billion each) because almost nothing is held back. SHIB has no unlock calendar that we could find in a source we fetched.

Where SHIB trades

We read 24-hour spot volume from the public tickers of nine venues on 25 October 2026 at about 10:13 UTC. Coinbase and Kraken report volume in SHIB, converted at their own last prices, so those two are approximate.

KuCoin printed $3.37 million, 35% of the $9.64 million across the nine. Binance followed at $1.87 million (19%), then OKX ($1.48 million), Gate, MEXC, Bybit, Bitget, Kraken and Coinbase. All nine together turned over about 0.34% of SHIB's market cap in a day, and the two USD books (Coinbase and Kraken) carried only 4.6%. New exchange listings are tracked on our listings page.

Derivatives are far larger than spot. The Binance 1000SHIBUSDT perpetual (one contract is 1,000 SHIB) traded $23.0 million in 24 hours, 12.3 times Binance spot, with open interest of about $20.1 million. Bybit's SHIB1000USDT perpetual turned over $2.70 million with $6.89 million of open interest.

SHIB vs BTC

Over the 90 days, SHIB's daily returns correlated 0.79 with Bitcoin's (89 daily returns), and a regression slope (beta) of 1.46 says a 1% BTC move came with about a 1.46% SHIB move. Over the full year the figures were 0.72 and 1.11. On the 47 days BTC closed up it averaged +1.49% and SHIB +1.82%. On the 42 days BTC closed down it averaged -1.05% and SHIB -1.85%, so SHIB gave back about 1.8 times BTC's drop but gained only 1.2 times its rise. SHIB moved in the same direction as BTC on 66 of 89 days (74%) and beat it on 41 (46%).

The 21 August spike lifts the beta: without it the 90-day correlation is 0.76 and the beta 1.24, and without both 21 August and 21 September they are 0.72 and 1.18. For the benchmark itself, read the Bitcoin guide and the BTC market page. For another meme coin with a live page, see Dogecoin and its market page; SHIB does not have a live page under our markets section yet.

The 30-day correlation stayed in a narrow band: all 60 readings sit between 0.75 and 0.87. The one sharp dip, to 0.75 on 20 September, reversed the next day when the 21 September gain (SHIB +10.2%, BTC +6.7%) entered the window. The drop from 0.87 to 0.78 on 21 October came as that same 21 September gain left the window, replaced by a quiet day (SHIB +0.6%, BTC +1.3%). The line moves with the calendar as much as with the market.

Reading SHIB's structure and key levels

SHIB has no live page under our markets section, so we read the BiasNex engine directly at 10:12 UTC on 25 October 2026, with SHIB at about $0.00000486. On 4h its bias was bullish within a pullback, and the last event was an internal bearish change of character at $0.00000491 (the 4h candle from 12:00 UTC on 24 October). On 1h the bias was neutral, in a range, and the last event was an internal bearish break of structure at $0.00000487 (14:00 UTC on 24 October). Price sat just below that level.

The previous-day levels, from 24 October's daily candle, are the practical ones: high $0.00000501 and low $0.00000476. The engine also marks 1h liquidity pools between $0.00000499 and $0.00000510 above price, and 4h pools between $0.00000574 and $0.00000602. The 4h average true range was 1.97% and the 1h 0.74%. Read it against market structure: the 4h bias had not flipped, but the shorter structure was pointing down. These are levels to watch, not a forecast.

Risks

• Range. At 5.58% a day, with a 19.6% day in the sample, stops sized from major coins get hit. Size from the stop with the position size calculator.
• Price step. One tick is about 0.2% of the price, so tight stops can be as little as a few ticks.
• Derivatives dominate. Binance's perpetual alone is 12.3 times its spot volume, so liquidations can move price either way. The liquidation price calculator shows where yours sits.
• Supply facts. Burn and ecosystem claims beyond what we list could not be checked against the project's own site, and we left them out.
• Drawdowns. On daily closes SHIB fell as far as 61.1% below its running one-year high (by 16 July 2026), and on 24 October it was 53.3% below the peak close of $0.00001056 on 26 October 2025.

More coins in the same format are in the Coin Library.

FAQ

What is Shiba Inu (SHIB)? A meme token on Ethereum that grew an ecosystem: the ShibaSwap exchange, the Shibarium layer 2, and the LEASH and BONE tokens, per CoinGecko's project description (25 October 2026). Its market cap was $2.86 billion, rank 36.

How many SHIB have been burned? On 25 October 2026 the SHIB contract showed 410.44 trillion SHIB at one dead address and 49.5 billion at another, together about 41.0% of the 999.98 trillion contract supply. CoinGecko counts 589.24 trillion SHIB as circulating.

Does SHIB follow Bitcoin? Closely. Over 90 days the daily-return correlation was 0.79 and the beta 1.46, and SHIB's down days were bigger than its up days relative to BTC.

When is the most volatile time to trade SHIB? In our 90-day data 14:00 UTC (17:00 MSK) had the widest average hourly range, 1.61%, and 20:00 UTC the narrowest, 0.93%.