Shiba Inu Exchange Reserves Plummet to Record Low

Shiba Inu's exchange reserves have hit a record low of approximately 86.1 trillion SHIB, representing about 14.6% of its circulating supply.

This development has led to increased speculation about a potential supply squeeze in the token's market.

However, analysts argue that this narrative may be misreading the data, as reserve statistics measure where tokens are held, not whether they are wanted by buyers.

The Shibarium network, which is designed to provide utility for SHIB, has seen a significant decline in decentralized exchange volume and chain fees over the past week.