SHIB exchange reserves hit all-time low as 1.5 trillion tokens exit

Shiba Inu holders withdrew 1.5 trillion tokens from exchanges by July 15, pushing exchange reserves to an all-time low of 86.69 trillion SHIB.

The withdrawals reduced SHIB's exchange balance to the lowest on record, according to CryptoQuant data. A separate 174.8 billion SHIB exited exchanges in the 24 hours through July 15 alone, the data provider showed, as large holders moved tokens to self-custody wallets. The outflow, valued at roughly $792,000 at current prices, marks one of the largest single-day withdrawals for the meme token.

The accumulation comes as SHIB trades at $0.00000417, down 95% from its 2021 peak and near the $0.00000402 all-time low printed in June. The token lost roughly a quarter of its value in June alone, with the meme sector shedding a third of its market cap over the same period, according to CoinGecko data. Open interest in SHIB futures rose 5.7% to $28.8 million over the past day, Coinglass data shows, though it remains 80% below the January peak of $145.5 million. The long-versus-short futures ratio remains slightly positive, hinting that many traders expect a bottom, while the Chaikin Money Flow has dwelled below zero on most major platforms, indicating whale selling pressure persists.

The total number of SHIB holders reached a record 1,676,535, BSCN reported, with nearly 75,000 wallets added between July 5 and July 6 alone.

The supply squeeze from exchange withdrawals could support prices if demand holds, but SHIB faces structural headwinds. With 589.2 trillion tokens in circulation, even aggressive token burns remove a negligible fraction of supply — the best burn day in late June removed roughly four million tokens, less than a millionth of a percent of circulating supply. A single whale wallet moved 665 billion SHIB in one transaction earlier this year, an amount that would take roughly 450 years to burn at June's peak burn rate. SHIB's next resistance sits at $0.0000432, according to Bollinger Bands, while support at $0.000004 has held through multiple tests since late June. Bitcoin's recent bounce toward $65,000 has failed to lift SHIB, with spot trading volumes hovering around $55 million in 24 hours.

This article is for informational purposes only and does not constitute investment advice.