Shiba Inu's Quiet Rise: How Exchanges Are Stockpiling Confidence in SHIB

Bybit has disclosed holding 2.94 trillion Shiba Inu (SHIB) tokens in its latest proof-of-reserve audit, signaling robust demand for the token on the platform. The revelation, made during Bybit’s 25th audit, highlights SHIB as one of the top digital assets within its portfolio. The exchange noted a strategic shift in its reserves, with Bitcoin and Ethereum holdings increasing while stablecoin USDT saw a decline. This underscores a growing preference for volatile assets among Bybit users.

Bybit’s SHIB reserves are not an isolated case. Major platforms such as Robinhood and Binance also maintain large SHIB holdings, with Robinhood reportedly holding around 39 trillion and Binance approximately 60 trillion tokens. This widespread accumulation across leading exchanges reflects institutional and retail confidence in SHIB’s long-term value proposition. Analysts view this as a potential indicator of SHIB’s strengthening role in the broader crypto ecosystem.

The Shiba Inu ecosystem has seen recent upgrades, notably to its Shibarium developer hub, aimed at enhancing decentralization and validator participation. These updates have led to a surge in daily transactions and token burn rates, further reinforcing SHIB’s scarcity and utility. The introduction of the Torii Gateway project has also expanded the token’s capabilities, now supporting over 1,500 tokens across 60 networks. Future integrations with non-EVM chains like Solana and Tron are anticipated to broaden SHIB’s accessibility and usage.

Positive on-chain metrics have also emerged, with SHIB showing a strong Chaikin Money Flow and the formation of an inverse head-and-shoulders pattern. Analyst Javon Marks has projected SHIB could reach $0.000081, representing a potential gain of over 540% from current levels. These technical indicators, combined with Bybit’s disclosed holdings, suggest a potential bullish trend for SHIB.

The Shiba Inu token continues to demonstrate resilience and growth, with its market cap currently sitting at $7.34 billion and a 0.9% increase in the last 24 hours. The ecosystem’s token dynamics remain active, with $BONE and $TREAT also showing positive performance. The network’s expansion, including a milestone of 1.529 billion transactions processed on Shibarium and 288,113 active accounts, reflects a growing and engaged user base. As the Shiba Inu community continues to innovate and expand, the token's strategic position on leading exchanges like Bybit is likely to bolster its market presence in the near future.

Source: [1] Bybit Discloses 2.94T SHIB Tokens as Demand Surges Across Market (https://coincentral.com/bybit-discloses-2-94t-shib-tokens-as-demand-surges-across-market/) [2] Shiba Inu Spotlight: Burns, Market Moves, and Shibarium Momentum (https://magazine.shib.io/shiba-inu-spotlight-burns-market-moves-and-shibarium-momentum/)