SHIB Exchange Reserve Teeters on 87 Trillion Threshold

Shiba Inu's exchange reserve is dwindling as investors withdraw more tokens from crypto trading platforms than deposit new ones. According to data from CryptoQuant, over the past 24 hours, $458.87 billion in SHIB was withdrawn from exchanges, while only $213.88 billion was deposited. This resulted in a net outflow of nearly 245 billion tokens, leaving exchange-held SHIB at approximately 87.0059 trillion.

This level is just 5.9 billion tokens above the critical 87 trillion threshold, and continued outflows could soon push it below this mark. A declining exchange balance could ease immediate selling pressure by reducing the number of tokens available for investors to sell.

However, as the article notes, exchange outflows do not guarantee a price increase, as investors can move tokens back to exchanges when market conditions change. The recent decline in SHIB's price has been significant, with a 2.52% drop over the past 24 hours and 4.35% over the past seven days.