Shiba Inu’s recent market performance continues to disappoint holders, as the token’s price struggles to recover and bearish pressure mounts on exchange activity.
88 trillion SHIB now held on exchanges
The latest onchain data from CryptoQuant, a blockchain analytics platform, indicates that Shiba Inu’s supply across exchanges has surged. Current figures show the SHIB exchange reserve stands at approximately 88,076,900,000,000 SHIB as of October 3, reaching its highest level since early June, when markets were marked by high volatility.
Rising exchange reserves often suggest that traders are preparing to sell, as more tokens become available for potential liquidation. This signals a shift in market sentiment and highlights growing concerns about additional downside risk for SHIB.
| Metric | Value | Reference Date |
|---|---|---|
| SHIB exchange reserve | 88,076,900,000,000 | October 3 |
| Previous 4-month high | ~88,000,000,000,000 | June 3 |
Price continues downward as selling pressure builds
Shiba Inu’s lack of price recovery coincides with growing exchange supply. Over the past 24 hours, SHIB has declined by nearly 3%, reinforcing the bearish outlook projected by analysts. With the exchange netflow reflecting an inflow of more than 288 billion SHIB, indications point to increasing selling activity.
CryptoQuant data suggests that the combination of elevated exchange reserves and increasing net inflows constitutes a strong bearish signal for the token, especially in an environment where the broader crypto market is also under pressure.
CryptoQuant’s latest report points out that Shiba Inu’s exchange reserves have returned to the 88 trillion SHIB mark, marking the highest level in four months and signaling a growing risk of further price declines.
Market sentiment: sellers may dominate in coming days
Market observers are closely monitoring SHIB’s exchange activity, anticipating that the current level of reserves could accelerate sell-offs if demand remains weak. Discussions among analysts suggest that the dominance of sellers could persist unless significant investor interest returns.
As the sentiment sours, speculation has grown over whether SHIB can regain momentum in the near term, or if further price pressure is likely as traders shift their positions to capitalize on the downturn.
Shiba Inu, widely recognized as a memecoin inspired by the Shiba Inu dog breed, has become one of the largest community-driven tokens in the market since its launch. However, it faces heightened volatility and rapid shifts in investor appetite, amplifying both gains and losses during periods of intense trading activity.
Mini dictionary: CryptoQuant, a leading blockchain analytics platform, tracks cryptocurrency flows and metrics—including exchange reserves and netflows—to help market participants assess trading activity and sentiment in real time.
