Shiba Inu exchange reserve nears 88 trillion SHIB as price rally stalls
In brief
- SHIB exchange reserve stood near 87.79 trillion tokens as of Sept. 27, per CryptoQuant data.
- Net exchange inflows topped 75 billion SHIB over 24 hours, U.Today reported.
- SHIB turned negative, trading around $0.000005883, according to U.Today.
- U.Today read the rising reserve as a bearish signal; exchange inflows don't confirm sales.
What the onchain data shows
The figures come from CryptoQuant, the onchain analytics platform, and were reported by U.Today. U.Today put the reserve at around 87,793,800,000,000 SHIB, up from the previous day's level. Traders moved more SHIB into reserves across all supported exchanges over the prior day, the outlet said, and SHIB's exchange netflow over those 24 hours was positive at more than 75 billion SHIB.
The reserve now sits just shy of 88 trillion.
Exchange inflows don't confirm sales, though. The data tracks where tokens moved (onto exchanges), not what holders did with them once they got there.
Price action and the rally pause
SHIB turned negative and was trading around $0.000005883 at the time of U.Today's report. The outlet said the token's recent price rally had stalled, and it tied that pause to a slowdown in the broader crypto market's recent rally, which it said had extended to the Shiba Inu ecosystem.
How U.Today reads the reserve
So what does a reserve near 88 trillion SHIB actually signal? U.Today's answer was that it's a bearish sign, arguing the rise suggests there was less buying activity over the prior day. The outlet also suggested that the reserve drawing close to the 88 trillion level could delay a potential price rally for the token.
Those are the outlet's readings of the data, not settled outcomes. It's one day of netflow data from a single analytics provider, and the reserve figure itself is a snapshot as of September 27. We'll keep an eye on whether the reserve actually crosses 88 trillion, or whether the inflows reverse.
Frequently asked questions
How much SHIB is sitting on exchanges right now?
CryptoQuant data reported by U.Today put Shiba Inu's exchange reserve at around 87,793,800,000,000 SHIB as of September 27. That was up from the previous day's level and close to the 88 trillion mark.
Why did U.Today call the SHIB exchange data bearish?
U.Today said the rising reserve suggests there was less buying activity over the prior day, after a positive 24-hour netflow of more than 75 billion SHIB. It also suggested the reserve nearing 88 trillion could delay a potential price rally. That's the outlet's interpretation, and exchange inflows alone don't confirm sales.
