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Shiba Inu ($SHIB) token is trying to find a new bottom, but in a good way. The token's market capitalization has stabilized around $3.22–$3.26 billion, and this level is turning from a major obstacle into reliable new support for the price.
According to TradingView, $SHIB has finally settled above its 200-day moving average — the red line on the chart. This happened for the first time in all of 2026. In effect, the coin is completely erasing its brutal 11-month decline and ending the bearish cycle that had been running since September last year.
The reasons for optimism are not purely technical. The recovery is supported by a strong news backdrop. First, $SHIB is officially entering Japan's regulated market. The local regulator, the FSA, granted a crypto service provider license to Laser Digital — a subsidiary of traditional financial giant Nomura — and included $SHIB among the assets approved for institutional investors.
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Second, a powerful short squeeze in the futures market helped. Bears betting against crypto were liquidated to the tune of $3.1 billion. To close their losing positions, they had to urgently buy the token on the market, pushing its price higher.
At the same time, $SHIB is breaking every historical stereotype. According to its price history, the end of summer has usually been dull for the coin, but this August has delivered a 15.9% gain. This is its best result in five years and has pushed the token's total third-quarter return to a record 30.1%.
Rankings and autumn upside: $SHIB set to flip rivals
Shiba Inu currently ranks 28th globally on CoinMarketCap. After reversing its macro trend and establishing a new floor at $3.26 billion, the token is ready to move past its competitors and is already set to flip them.
It needs to grow by only 0.6% to overtake Avalanche (AVAX) and by less than 1.2% to displace Sui (SUI). Daily trading volume of $146.2 million shows that there is liquidity in the asset.
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The defense of this level is happening at exactly the right time. The fourth quarter lies ahead, while October has historically been $SHIB's most explosive month, with an average return of 167.5%. With the current base holding firm, the coin has every chance to return to the top 25 this autumn.