The start of 2026 has witnessed a significant resurgence in the cryptocurrency market, particularly within the meme coin sector. Leading this renewed interest is Shiba Inu, which has demonstrated impressive gains, sparking discussions about a potential broader "meme coin season." On-chain analytics reveal compelling data points that suggest a shifting landscape, drawing attention from traders and investors alike.
Shiba Inu's Remarkable Ascent
Shiba Inu has kicked off 2026 with a powerful rally, jumping a substantial 32% since the year began. This surge included a sharp 13% rise on a single Sunday, pushing its price from $0.000008 to $0.0000094, a significant climb from its January 1 low of $0.00000688. Despite minor retracements, the token has maintained a strong weekly performance, up 17%. Crucially, this recent price action saw Shiba Inu break above its daily MA 50, a level it hadn't surpassed since early October, signaling a potential bullish trend. Further analysis highlights the significant concentration of Shiba Inu tokens, with the 10 largest wallets, predominantly crypto exchanges, holding nearly 63% of the total supply, and the single largest wallet commanding close to 41%, valued at over $3.3 billion. For sustained momentum, confirming the $0.000008 level as robust support will be key, with subsequent resistance points at $0.000011 and $0.000013.
Is a New Meme Coin Season Dawning?
Beyond Shiba Inu's individual performance, the entire meme coin sector is showing signs of robust recovery. Following a period of "Fear, Uncertainty, and Doubt" (FUD) among retail traders post-Christmas, the collective market capitalization of meme coins surged past $45.3 billion, marking an increase of over 20.8% in just one week. CryptoQuant, another prominent on-chain analytics platform, has observed a notable rebound in meme coin dominance. This dominance had previously declined significantly from 0.11 in November 2024 to a historical low of 0.032 by December 2025. Historically, such extreme lows in meme coin dominance have often preceded the onset of "massive meme coin seasons." The current upward trend in this ratio at the beginning of 2026 suggests that while it's still early, market observers are eagerly watching to see if this recovery truly heralds the start of a new, expansive rally for the meme coin category.
