CryptoQuant’s real-time data shows that Shiba Inu (SHIB) just hit the rock bottom in overall exchange reserves. This paints a picture of lesser demand to trade SHIB on crypto platforms, while the scarcity induced could manifest itself in some price appreciation.
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Judging from the latest metrics, Shiba Inu coin’s (SHIB) overall supply on crypto exchanges has just plunged to 81.4 trillion, marking a new all-time low. Naturally, the gradual decrease of SHIB on exchanges occurs when holders choose self-custodial wallets over platforms.
However, there’s more to it – Shiba Inu’s (SHIB) trading volumes have been dramatically slumping on both Spot & Futures crypto markets. The lesser demand comes amidst a fierce competition in the meme coin compartment, with the likes of Pepe Token (PEPE) garnering higher volumes despite lower ranking.
Whales Are Coming Back For More SHIB
As Shiba Inu (SHIB) attempts to breach $0.00000929, big-time crypto investors are back after a slow start of December. The Chaikin Money Flow (CMF) index has recouped positive territory after numerous days of profit-taking, and now the ball is once again in the bulls hands. At $0.00000881, Shiba Inu found extensive support.
With roughly 585 trillion SHIB remaining in supply, the exchange reserve plunge could induce the much-needed scarcity. Starting at 999 trillion, Shiba Inu’s long deflationary road via burns has produced some results, but a supply crunch on exchanges adds a new layer of scarcity.
While the Spot market sentiment has flipped back to bullish, Futures markets are still on the short-selling side, with the short versus long ratio at 1:0.92, according to CoinGlass. Moreover, Shiba Inu’s Open Interest (OI) weighted funding rate has bounced between negative & positive territories like a ping-pong, raising questions about sustainable demand on Perpetuals markets.
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Just 81.4 trillion tokens remain on exchanges — an all-time low, worth roughly $722M at today’s price of $0.00000881.
Whales are withdrawing billions daily to cold wallets and locking them on Shibarium. This cuts available supply for selling and shows long-term holder confidence.
Heavily bullish. Lower exchange reserves mean reduced sell pressure and set the stage for a potential supply shock rally, just like past SHIB explosions.
SHIB sits at $0.00000881, down 72% YTD but building a rounded bottom with rising RSI divergence.
Continued outflows plus surging burns could ignite a breakout above $0.00001. Low reserves historically precede big moves — fireworks may be close.
