Despite Shiba Inu persistent price weakness, the exchange reserve metric suggests investors are aggressively pulling SHIB off exchanges.
CryptoQuant data indicate that holders are withdrawing SHIB from exchanges at a rapid pace, a trend that could help alleviate selling pressure on the top meme coin.
125B Shiba Inu Out From Exchanges
On November 15, Shiba Inu experienced a major exchange outflow. CryptoQuant data confirmed that approximately 125 billion SHIB were withdrawn from exchanges on that day.
As a result, SHIB’s exchange reserves fell from 81.815 trillion on November 14 to 81.693 trillion on November 15. Although the drop continued into November 16, the reserve metric recovered slightly to 81.77 trillion at press time.
Shiba Inu Exchange Reserves
Despite the slight rebound, the metric shows that approximately 260 billion Shiba Inu tokens have been removed from exchanges since the beginning of this month. Exchange reserves have dropped from 82.03 trillion SHIB on November 1 to 81.77 trillion as of today.
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