Shiba Inu Exchange Reserves Drop Below $1 Billion Amid Withdrawals
Key Insights on Shiba Inu (SHIB) Exchange Activity:
- Shiba Inu's exchange reserves have dramatically dropped below the $1 billion mark due to significant withdrawals.
- Data from CryptoQuant shows SHIB's supply on exchanges decreased from 143.62 trillion tokens in 2024 to 84.55 trillion in 2025.
- This decline represents a reduction of 59.1 trillion tokens within one year, marking the lowest reserve levels since 2023.
- The largest drop was noted on January 7, with reserves falling by over 33 trillion tokens from the previous day.
Market Implications and Price Trends:
- The ongoing decrease in exchange balances suggests a shift towards self-custody or staking, potentially reducing selling pressure risks.
- SHIB's price has experienced volatility, currently trading around $0.000011, down from earlier highs.
- Technical analysis indicates potential for a breakout, with signs of a reversal pattern forming and support at $0.000010.
Despite recent turbulence, analysts suggest the current dip may offer a buying opportunity, with predictions of a possible rally to $0.000019, representing a potential increase of over 70% from current levels.