In the Shiba Inu ecosystem, on-chain metrics closely watched by analysts show that SHIB reserves held on cryptocurrency exchanges have returned to the 82 trillion mark. Despite ongoing fluctuations in outflows and accumulation efforts over recent months, current reserves held at centralized exchanges are estimated at around 81.9 to 82.3 trillion SHIB. This newly reached level signals a notable shift in the asset’s supply dynamics.
Does high SHIB supply on exchanges increase selling pressure?
A large amount of SHIB stored on exchanges is often interpreted as a sign of intensified selling pressure. When investors move significant holdings onto trading platforms, it is typically for reasons including converting liquidity, risk management, or taking profits. In previous periods marked by weak price momentum and elevated distribution, SHIB reserves have also surpassed the 82 trillion threshold.
However, the current situation is not limited to negative signals alone. Recent weeks have recorded noteworthy SHIB outflows from exchanges, resulting in mixed net flow data. Some analysts interpret continued accumulation by long-term investors as a positive sign, even with large reserves remaining. Others suggest the return to the 82 trillion level could indicate that short-term sellers are once again gaining control of the market.
Technical indicators show fragile equilibrium
Chart analysis reveals this uncertainty clearly. SHIB saw steep declines over several months before forming a stable accumulation base in March and April. A triangle pattern then emerged, characterized by a horizontal resistance between $0.0000064 and $0.0000065 and a rising support near $0.0000060.
However, with SHIB’s price unable to sustain levels above resistance in recent sessions, buyers have struggled to generate strong upward momentum. The Relative Strength Index (RSI) remains near neutral, rather than entering oversold territory. In effect, SHIB retains much of its momentum as it still trades above the rising support line and the 20-day moving average, indicating that the market’s overall direction has not yet fully reversed.
The 82 trillion SHIB ceiling and possible scenarios
At present, the greatest pressure on SHIB appears to stem from the exceptionally high supply. With more than 82 trillion SHIB held on exchanges, persistent selling could continue unless there is a significant surge in demand, making it difficult for prices to climb sustainably.
A decisive break above the $0.0000065 level could propel SHIB to its 200-day moving average near $0.0000075. Conversely, if the key support at $0.0000060 is lost, the recent positive trend may no longer hold, potentially leading to a period of stagnant price movement.
The fact that SHIB reserves on exchanges have once again surpassed 82 trillion points to both renewed selling pressure and continued market indecision, according to sector analysts.
