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Shiba Inu (SHIB) exchange reserves have dropped back to about 85.84 trillion tokens in early November, a level that may be healthier for the meme coin's supply. The price, meanwhile, is still under heavy selling pressure.
The latest on-chain data puts SHIB exchange reserves at 85.8432 trillion tokens, up only 0.01% over the past 24 hours. The seven-day chart tells a different story: reserves have fallen noticeably, which suggests a lot of SHIB has left trading platforms.
Why 85 trillion SHIB matters
Lower exchange reserves generally mean fewer tokens are on hand to be sold. When investors pull SHIB into private wallets, there is less supply available to sellers on centralized exchanges. That doesn't guarantee a price recovery, but it can make the supply picture more favorable.
The reserves are currently valued at about $397.45 million, down 1.69% on the day. Exchange netflow is still positive at roughly 10.94 billion SHIB, so short-term selling pressure hasn't gone away.
SHIB price still faces technical challenges
The supply picture is improving, but the chart is still bearish. On the daily SHIB/USDT chart, the token trades near $0.00000463 after breaking below its ascending support trendline. It is also under several important moving averages, which means sellers still control the broader structure.
Immediate resistance sits around $0.00000500–$0.00000530. The $0.00000440–$0.00000450 region is the next potential support zone.
If demand starts to recover, the drop in exchange-held supply could matter more. For now, the 85 trillion mark is a constructive on-chain sign, not a confirmed bullish reversal. A more convincing case would need continued exchange withdrawals, stronger buying, and a move back above the key resistance levels.