A recent CryptoQuant report reveals a concerning shift for Shiba Inu (SHIB) as its all-exchange reserve has taken a sharp dive. In January 2025, the token’s reserve stood at 135.68 trillion SHIB, but it has now fallen to an all-time low of 96.6 trillion SHIB.
This drop highlights a noticeable reduction in SHIB cryptocurrencies held on exchanges. Not long ago, in February 2024, this figure was significantly higher, around 165 trillion SHIB. The timing of this decline coincides with a profound dip in SHIB’s price.
SHIBA INU: Exchange Reserve—All Exchanges (Source: CryptoQuant)
Since December 2024, the meme coin has lost more than 60% of its value, sliding from 0.0000334 USDT to its present price around the 0.0000127 USDT range. The sharp drop in reserves aligns with this price collapse, suggesting a shift in how investors are interacting with the coin. The substantial decrease in reserves may reflect a growing trend of holders moving their SHIB off exchanges.
Reasons Behind the Reserve Decline
Several factors are likely driving the drop in SHIB’s exchange reserve. As confidence in the coin’s future has grown, many investors are choosing to withdraw their holdings from exchanges. They are moving their SHIB into cold storage, heeding the widely shared crypto advice: “Not your keys, not your coins.”
This trend has been further fueled by the recent hack of the Bybit exchange, where more than $1 billion worth of Ethereum was stolen. The breach has raised alarms over the safety of funds stored on exchanges, prompting a growing number of SHIB holders to shift their assets into private wallets for added security.
SHIB Price Faces Crucial Support Test
SHIB’s price is now at a critical support level. The cryptocurrency is trading at 0.000012704 USDT, down by 4.66% in the past 24 hours. The current support zone lies between 0.000013335 USDT and 0.00001086 USDT, an area that has previously provided strong support. If SHIB fails to maintain this support, it could experience further downside, reaching 0.00000800 USDT.
SHIB/USD 1-Week Chart (Source: TradingView)
The cryptocurrency is already showing hints of accumulation in this collecting area. A break above the descending trendline resistance could push the price towards 0.00002411 USDT. However, if the price keeps stalling at these levels, the downtrend could persist, and SHIB could face more losses.
Fibonacci Analysis and Price Targets
Primary resistances for SHIB, according to Fibonacci retracement levels, include 0.00002411 USDT (38.2% Fib), 0.00002820 USDT (50% Fib), and 0.00004533 USDT (100% Fib). The price needs to break the level of these resistances to make an eventual recovery. Upon clearing the value of 0.00002411 USDT, the next key resistance of SHIB will be found at around 0.00002820 USDT.
