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SHIB Shiba Inu's exchange reserves have dropped to approximately US$414.8 million, with the US$400 million mark within close reach, and the token is still struggling below key technical resistance. On-chain data shows that this decline reflects lower valuations in the SHIB market and significant changes in the number of tokens held on decentralized exchanges.
The reserve indicator measures the U.S. dollar value of SHIBs on exchanges. Therefore, even if the exchange balance is relatively unchanged, price fluctuations will directly affect its value. As SHIB's trading price is well below its high for the year, the value of reserves continues to shrink despite network participation remaining stable.
Meanwhile, SHIB is currently trading at around US$0.000048 after failing to hold a breakthrough at key resistance levels. Buyers briefly pushed the token price higher, driven by increased trading volume, but selling pressure quickly wiped out the increase and the price fell back below that resistance level.
In addition, SHIB remains below its 100-day exponential moving average (approximately US$0.000050). This level has become an immediate technical obstacle. Unless buyers regain that position, the recent rebound may be a temporary repair rather than a broad trend reversal.
Internet activities remain resilient, although valuations have declined
Chain indicators show that investor participation has remained basically stable. The number of active addresses, receiving addresses, and transactions all increased slightly, indicating that network use did not weaken with the weakening of token prices.
As a result, the contraction in exchange reserves appears to be mainly related to the decline in SHIB valuations. Even if the current price drops only slightly, it may push reserves below the US$400 million mark without creating additional token deposits or withdrawals.
In addition, momentum indicators show that buying forces have weakened after the recent rebound. The relative strength index entered overbought territory during breakthrough attempts, but has cooled down as demand weakens. Although momentum is still stronger than previous levels, it no longer reflects the aggressive buying that drove the initial rise.
Meanwhile, the 200-day exponential moving average (approximately US$0.000060) remains the next major resistance level. Buyers need to significantly increase demand to challenge this level and improve SHIB's overall technical outlook.
A rebound in prices can quickly reverse reserve losses
If prices break the 100-day exponential moving average, it will immediately increase the dollar value of ShiIB held on the exchange without changing the token balance. Therefore, exchange reserve indicators are much more closely related to price performance than to investor behavior.
Conversely, if prices fall further, reserve valuations will continue to decrease even if exchange positions remain basically unchanged. This relationship makes price movements the main driver approaching the $400 million threshold.
Shiba Inu's exchange reserves are approaching $400 million as lower token prices reduce the dollar value of assets held on the exchange. At the same time, stable on-chain activity suggests that the indicator reflects market valuations rather than weakening Shiba Inu's network participation.
