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SHIB SHIB gained 4.4% intraday, outperforming most mainstream cryptocurrencies.
Shiba Inu (SHIB) showed stronger upward momentum than many mainstream cryptocurrencies at the beginning of the week. In 24 hours of trading, the memin price rose 4.4% and reached $0.0000596 at noon on Monday. This trend makes SHIB one of the strongest performing targets among large digital assets. However, price fluctuations only reveal part of the story, and a larger data is even more noteworthy: more than 88 trillion SHIB tokens are currently held in the exchange's wallets, which constitutes huge potential selling pressure.
Exchange positions raise market concerns
According to Santiment data, as of October 3, the number of SHIBs held in exchange wallets was 88.08 trillion. At current prices, these balances are approximately US$525 million. Such a large quantity is important because coins deposited on exchanges are often easier to sell quickly. Trading activity paints a different picture: Daily trading volume is about $111 million. In contrast, the exchange balance far exceeds the single-day trading volume, with a significant gap. Market participants usually pay close attention to this indicator because large exchange reserves can increase selling pressure during periods of market volatility.
Many investors easily confuse three independent data indicators. Exchange balances represent available supply; transaction volume measures daily market activity; and token destruction tracks coins removed from circulation. Each indicator has its own specific purpose, and observing only a single indicator may lead to misleading judgments.
Short-term rebound and long-term downturn coexist
From the perspective of price performance, SHIB has maintained a positive momentum in multiple short time frames. SHIB has risen 5.0% in the past week; 10.2% in the past 30 days; and 26.1% in the past 60 days. These numbers suggest that the market is steadily recovering after previous weakness. However, looking at the longer-cycle chart, the situation is more severe. SHIB has fallen 53.3% in the past year. The current price is also 93.1% lower than the all-time high of $0.0008616 set in October 2021. To get back to that peak would require a fourteen-fold increase from current prices.
The 4.4% increase does not reflect the whole picture.
The trading range for the day ranged from US$0.0000568 to US$0.00000602, with an amplitude of 6.0% between high and low points. For European buyers, the price of one million SHIBs is approximately 5.31 euros. Since SHIBs are traded at extremely small numbers, the percentage increase can seem alarming. Even modest buying activity can produce significant percentage changes. For example, a 4% increase from $0.0000571 is equivalent to only a fraction of a cent. Therefore, experienced traders combine volume with price for analysis.
The turnover of approximately US$111 million accounted for approximately 3.2% of the market value. Strong trading volume can confirm market confidence, while weak trading volume may mean that the rally is not lasting enough. Although SHIB achieved one of the strongest one-day gains among major cryptocurrencies, exchange reserves remain a key factor to watch. More than 88 trillion tokens are ready for quick sale at any time. For investors, the information revealed by trading volume and exchange balances may be far more important than the one-day price rise itself.
