SHIB Reserves Hit Low as Whales Accumulate
Key Takeaways
Shiba Inu (SHIB) is experiencing a significant decline in reserves on crypto exchanges. Holdings have dropped to a historic low of 93.5 trillion SHIB, compared to 135.4 trillion in January 2025. At the same time, the burn rate is rising rapidly. These developments may indicate an increased shift of SHIB into cold wallets.
Decline in SHIB Holdings on Exchanges
According to data from CryptoQuant, fewer and fewer SHIB tokens are being held on crypto exchanges. In April 2022, exchanges held nearly 200 trillion SHIB, which accounted for almost half of the circulating supply. By February 2024, this figure had dropped to 165.8 trillion. Now, it stands at just 93.5 trillion SHIB.
This decline coincides with a significant price drop. Since December 2024, SHIB has lost over 60% of its value, falling from $0.0000329 to a recent low of $0.000013.
Long-Term Holders Sell – Whales Accumulate
Data from Glassnode shows that many SHIB investors from 2021 have sold off their holdings over time. These sales often occurred at key price peaks, leading to sharp price corrections.
While long-term holders and retail investors are exiting, large investors (so-called whales) are seizing the opportunity to accumulate. Currently, five major wallets control 58.38% of the total circulating SHIB supply – a total of 574.83 trillion SHIB.
Rising Burn Rate and Cold Storage Trend
Alongside the decline in exchange reserves, the SHIB burn rate is increasing significantly. Within 24 hours, 13.29 million SHIB were burned – a surge of 49,552%. A single whale destroyed 12.13 million SHIB in one transaction.
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Even larger amounts were burned in previous days. A single transaction eliminated 459.3 million SHIB, bringing the total amount of burned tokens to 503.3 million.
These developments suggest that investors are increasingly moving their SHIB holdings into cold wallets while simultaneously reducing the supply through burns. If demand remains stable, this could support the SHIB price in the long run.
Our Assessment
The declining exchange reserves and rising burn rate indicate that SHIB’s market structure is evolving. While long-term holders are exiting, whales are taking advantage of the opportunity to accumulate. The shift to cold storage could suggest a long-term holding strategy.
Whether SHIB benefits from these developments depends on future demand. If the market environment stabilizes, the reduced reserves and decreasing supply could have a positive long-term impact on the price.
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