Shiba Inu Hits 87.5 Trillion Reserve Milestone Amid Bearish Price Action
Shiba Inu (SHIB) has reached a new milestone in its exchange activity, with 87.5 trillion tokens held on trading platforms. This marks a decline of 0.18% from the previous day's reserves, according to recent on-chain data.
The total exchange reserve fell by 1.67% to around $403.49 million, reflecting SHIB's poor price performance rather than an equally significant decline in token quantity. Meanwhile, positive network signals are present, with a slight increase in the total number of transactions and active addresses.
However, the price chart remains bearish for SHIB, trading close to $0.00000461 after failing to recover above $0.0000050 in late July. The token's short-term average is being tested, but 87.5 trillion SHIB reserves are not a clear bullish signal.