"Shiba Inu's Trillion-Token Presence Proves Meme Coin Is No Joke"

Bybit, one of the largest cryptocurrency exchanges, has disclosed a substantial reserve of Shiba Inu (SHIB) tokens, highlighting the continued relevance of the meme coin in the digital asset ecosystem. According to its 25th proof of reserve audit, Bybit holds 2.943 trillion SHIB tokens, valued at approximately $37 million as of August 14. This figure reflects the amount of SHIB held on behalf of its users, underscoring the token’s significant presence on the platform [1]. The data suggests sustained user interest in SHIB, even as the token continues to face broader market challenges.

Etherscan data reveals a broader picture of SHIB distribution across major exchanges. Robinhood is the third-largest SHIB holder with 39.27 trillion tokens, representing 3.9% of the total supply. Binance also maintains a notable presence, with three of its wallets among the top 10 SHIB holders, collectively holding over 58 trillion tokens [1]. Crypto.com is also a key player, holding 5 trillion SHIB, or nearly 3% of the total supply. Gate, Kraken, Kucoin, CoinDCX, and Bitpanda also maintain significant SHIB reserves, emphasizing the widespread demand for the token across multiple platforms.

Beyond exchange holdings, a significant portion of the SHIB supply—over 41%—is locked in a burn address, totaling 410 trillion tokens. This represents a permanent reduction in supply, as the Shiba Inu team and community continue to conduct regular token burns. These ongoing efforts may support the token’s price dynamics by creating scarcity, assuming demand remains resilient [2]. The supply contraction, combined with the active presence of SHIB on leading exchanges, signals a shift from speculative hype to a more institutionalized asset class, as evidenced by its inclusion in detailed audits alongside major cryptocurrencies like Bitcoin and Ethereum.

Despite the positive fundamentals, the SHIB price has experienced a downturn in recent weeks. Over the past seven days, the token has fallen by more than 8%, and while it saw a brief rebound in line with the broader crypto market, it has since stalled. The drop in price is mirrored by a decline in derivatives trading activity. According to CoinGlass, SHIB’s derivatives trading volume has decreased by 10% to $159 million, and open interest has also fallen by over 5% to $180 million. However, the long/short ratio remains at 1.181, suggesting that traders still maintain a net long position [1].

As the market awaits key macroeconomic signals, particularly from Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole conference, SHIB’s future trajectory remains uncertain. Nevertheless, Bybit’s latest audit reaffirms the token’s enduring presence in the crypto space and its continued appeal among both retail and institutional investors. The transparency provided by Bybit and other platforms contributes to growing confidence in SHIB’s role as a prominent Ethereum-based meme coin [2].

Source:

[1] Mitrade Insights (https://www.mitrade.com/insights/news/live-news/article-3-1059613-20250822)

[2] U.Today (https://u.today/bybit-reveals-how-much-shiba-inu-shib-it-owns-talk-about-trillions)