The official Shiba Inu X account now follows WOOF, a new Ethereum meme coin that trades primarily against SHIB. According to DEX Screener, WOOF's price on the SHIB pair rose 971% over 24 hours following the attention.
WOOF launched this month with fewer than 700 X followers at the time of the follow. The token's account follows only one profile itself and identifies WOOF as a SHIB-paired token in its bio, with the contract address pinned in its most recent post.
Token Structure and Market Activity
WOOF is an ERC-20 token with a fixed supply of 1 billion. Its primary pool opened on Uniswap v4 on September 28, pairing the token directly with SHIB rather than ETH or a stablecoin. This structure means buyers need SHIB to access the deepest liquidity pool.
The SHIB pair currently holds approximately $180,000 in liquidity and recorded roughly $1.5 million in trading volume over the past day. Buy orders outnumbered sell orders, 2,653 to 1,875. The token has a market capitalization near $1.1 million with 882 holders listed on Etherscan.
Volatility Risks in Shallow Liquidity
The thin liquidity pool amplifies price moves in both directions. The WOOF contract includes buy and hold caps along with a launch-phase guard mechanism.
The Shiba Inu team has not publicly explained why its X account follows WOOF. A follow does not constitute an endorsement. Traders face uncertainty about whether demand for the token will persist once attention fades—a cooling hype cycle would hit a pool this shallow particularly hard.
