In Brief:
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Shiba Inu exchange reserves dropped 6.81% to $331.96 million, bringing their total valuation closer to a four-year low threshold.
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CryptoQuant data shows approximately 86 trillion SHIB remain on exchanges, while negative net flows recorded withdrawals totaling 45.9 billion tokens.
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SHIB fell below its July low of $0.00000413, while oversold RSI readings accompanied weak trading volume during its subsequent recovery.
Shiba Inu (SHIB) exchange reserves are approaching a four-year low in dollar value as declining prices reduce their overall valuation. The cryptocurrency faces selling pressure, with exchange holdings dropping 6.81% to $331.96 million within 24 hours.
According to CryptoQuant, approximately 86 trillion SHIB tokens remain on exchanges despite the substantial decline in their dollar value. Meanwhile, exchange balances decreased by just 0.05%, indicating that falling prices contributed significantly to the reduction. Additionally, exchange netflows remained negative, with approximately 45.9 billion SHIB leaving trading platforms during the reporting period.
Also Read: XRP to $1.30? Kalshi Traders Slash November Recovery Expectations
Shiba Inu Exchange Holdings Approach Critical $300 Million Threshold
Shiba Inu’s declining exchange reserve valuation has raised concerns about another milestone as the cryptocurrency struggles to recover. CryptoQuant figures indicate that exchange holdings could fall below $300 million for the first time in approximately four years. Significantly, this development could occur without substantial withdrawals because the underlying token balances remain relatively stable.
At approximately $0.00000394, SHIB would need to decline toward $0.0000035 to approach the $300 million threshold. Such movement would represent an additional decline of approximately 11% from the quoted market price. Meanwhile, liquidity conditions remain important because substantial selling activity could affect available market depth across trading platforms.
SHIB Price Drops Below July Low as Technical Indicators Signal Weakness
Shiba Inu fell again on November 14, dropping toward $0.0000037 and breaking its previous July low of $0.00000413. According to TradingView, SHIB’s Relative Strength Index dropped below 30 during the decline, entering technically oversold territory. Subsequently, the cryptocurrency recorded a modest recovery, although trading volume showed limited evidence of stronger buying activity.
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Source: TradingView
The rebound followed substantial selling pressure, while SHIB remained vulnerable to further fluctuations across the broader altcoin market. Additionally, market data suggests SHIB’s recent moves resemble those of other struggling altcoins rather than Bitcoin alone.
Shiba Inu’s exchange reserves remain near a significant valuation threshold, with declining prices driving most of the reduction. Further losses toward $0.0000035 could push exchange holdings below $300 million despite relatively stable token balances.
