Shiba Inu’s on-chain data shows a significant shift in exchange reserves, which dropped back to approximately 85.84 trillion tokens at the start of November. This reduction in available tokens on trading platforms is viewed by analysts as a potentially healthier supply condition for the meme-based cryptocurrency. Despite this, Shiba Inu’s price continues to face consistent selling pressure, offering little immediate relief to holders.
Exchange reserves decline
Latest figures indicate that Shiba Inu (SHIB) reserves held on exchanges now stand at 85.8432 trillion tokens. The change in the past 24 hours has been minimal, with an increase of just 0.01%. However, the picture for the week reveals a visible outflow, pointing to a substantial movement of SHIB away from trading platforms and into private wallets.
Lower reserves on centralized exchanges often suggest that fewer tokens are available for instant sale, potentially limiting supply in the market. Investors transferring SHIB to self-custody wallets tend to reduce short-term selling pressure, though this shift alone does not guarantee an immediate reversal in price trends.
Lower SHIB exchange reserves may contribute to a healthier supply structure, but current market data indicates that selling pressure has not yet fully subsided.
Price action and technical signals
The total value of SHIB held on exchanges is now estimated at $397.45 million, reflecting a 1.69% decline over the last day. Despite the reduced supply on trading platforms, the positive netflow of roughly 10.94 billion SHIB tokens signals that outflows have not yet overwhelmed continued selling activity. The market remains largely bearish in the near term.
On the daily SHIB/USDT chart, the asset recently broke below its ascending support trendline and trades around $0.00000463. In addition, SHIB remains underneath several major moving averages, indicating ongoing control by sellers and a lack of decisive bullish momentum.
The immediate resistance level for SHIB is found between $0.00000500 and $0.00000530. Any upward movement will likely face strong opposition in this zone. On the downside, technical analysts identify the $0.00000440 to $0.00000450 range as the next significant support area.
| Metric | Current Value | Change (24h) | Support/Resistance |
|---|---|---|---|
| SHIB Exchange Reserves | 85.8432 trillion | +0.01% | Support: $0.00000440–$0.00000450 | Resistance: $0.00000500–$0.00000530 |
| Exchange Netflow | 10.94 billion SHIB | Positive | – |
| SHIB Price | $0.00000463 | -1.69% | – |
Market outlook
While the improved supply dynamics show progress, the overall trend for SHIB remains bearish. For the current downtrend to reverse, market participants would likely need to see more consistent withdrawals from exchanges, a notable increase in buying interest, and a sustained rally above critical resistance levels. Without these catalysts, the recent decrease in exchange-held supply offers a constructive signal but falls short of confirming a broad recovery in Shiba Inu’s price trajectory.
The positive movement in on-chain supply is a step forward for $SHIB’s case, but a stronger bullish argument depends on further exchange outflows and decisive technical breaks above resistance.
