Shiba Inu exchange reserves fall to 85.84 trillion SHIB as price stays weak
In brief
- SHIB exchange reserves fell to about 85.84 trillion tokens in early November, per U.Today.
- SHIB exchange reserves were valued at about $397.45 million, down 1.69% on the day.
- SHIB exchange netflow stayed positive at roughly 10.94 billion tokens, U.Today said.
- U.Today called the 85 trillion level a constructive sign, not a confirmed bullish reversal.
What the reserve data shows
According to U.Today's report, on-chain data put SHIB exchange reserves at 85.8432 trillion tokens, up just 0.01% over the previous 24 hours. That's a flat day. The seven-day chart is different (reserves fell noticeably over the week), and U.Today said that suggested a lot of SHIB had left trading platforms.
The SHIB still sitting on exchanges was valued at about $397.45 million, down 1.69% on the day.
Netflow isn't as tidy. Exchange netflow was still positive at roughly 10.94 billion SHIB, and U.Today said short-term selling pressure hadn't gone away.
The chart is still bearish
U.Today's read of the daily SHIB/USDT chart doesn't match the reserve data. The token was trading near $0.00000463 after breaking below its ascending support trendline, and it sat under several important moving averages, which U.Today said meant sellers still controlled the broader structure.
The outlet put immediate resistance at around $0.00000500–$0.00000530 and named $0.00000440–$0.00000450 as the next potential support zone. Both ranges come from U.Today's chart analysis.
So what does 85 trillion mean for holders?
Lower exchange reserves generally mean fewer tokens are available to be sold, U.Today said. That's the argument for reading the number as a positive. The outlet didn't stretch it further than that, and it said SHIB's price was still under heavy selling pressure.
For now, the 85 trillion mark is a constructive on-chain sign, not a confirmed bullish reversal.
U.Today said a stronger bullish case would need continued exchange withdrawals, stronger buying, and a move back above key resistance levels. Its own numbers show the netflow still positive and the price still sitting below that resistance band.
Falling reserves alone don't change the chart.
Frequently asked questions
What does a drop in SHIB exchange reserves mean?
U.Today said lower exchange reserves generally mean fewer tokens are available to be sold. It described the 85 trillion level as a constructive on-chain sign, not a confirmed bullish reversal, and said SHIB's price was still under heavy selling pressure.
Why is SHIB still considered under selling pressure?
U.Today said SHIB exchange netflow was still positive at roughly 10.94 billion SHIB. It also said the token broke below its ascending support trendline and traded under several important moving averages, which meant sellers still controlled the broader structure.
