- Shiba Inu (SHIB) exchange reserves have fallen to their lowest point in two years at 84.55 trillion tokens.
- The drop in reserves indicates traders are moving assets from exchanges to self-custody and staking.
- Analysts say the shrinking supply may result in less selling pressure and prepare SHIB for a possible price rally.
- On-chain data and technical charts show strong holder confidence and point to an accumulation phase.
- The supply decrease on exchanges may contribute to a significant price movement, especially as October begins.
At the end of September, Shiba Inu exchange reserves reached a two-year low, declining to 84.55 trillion tokens, according to recent market data. This decrease is happening as traders remove tokens from exchanges, favoring both self-custody and staking opportunities.
Analysts note that SHIB reserves now total approximately $998 million, based on current market prices. Net flows show SHIB tokens are accelerating out of exchanges, a move that market observers identify as a shift in overall trader sentiment.
Crypto analyst Zayn highlighted, “$SHIB exchange reserves falls to 84.55T tokens (~$998M), the lowest since 2023… What This Means For Price?” He noted that the drop in exchange reserves historically signals lower selling pressure, and said, “shrinking supply equals less sell pressure,” suggesting the market may be entering a key accumulation phase. Technical indicators show that SHIB’s price is trading near $0.000011, near a descending trendline that could prompt upward price movement if broken.
Recent on-chain data signals continued negative netflows, which means more tokens are leaving exchanges than entering. In the last reporting period, 154.45 billion tokens were withdrawn, increasing the scarcity of SHIB available for trade on exchanges.
Technical charts from CryptoQuant also indicate a period of accumulation, a stage when holders buy and store tokens rather than sell them. Market observers note that this combination of strong holder confidence and declining exchange reserves could influence SHIB’s price in the coming weeks.
For more data on these shifts, readers can review the original update on Shiba Inu exchange reserves.
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