SHIB gained 4.4%, outperforming many major cryptocurrencies in daily trading. Exchange wallets hold 88 trillion SHIB, creating significant potential selling pressure. Volume and exchange bala
Shiba Inu started the week with stronger momentum than many major cryptocurrencies. The meme coin climbed 4.4% in 24 hours and reached $0.00000596 by midday Monday. That move placed SHIB among the strongest performers across large-cap digital assets. Still, price action tells only part of the story. A much larger figure deserves attention. More than 88 trillion SHIB tokens currently sit on exchanges, creating a massive supply that traders can sell at any time.
https://twitter.com/RagnarShiba/status/2107140766673834361According to Santiment data, exchange wallets held 88.08 trillion SHIB on October 3. At current prices, that balance equals roughly $525 million. Such a large amount matters because exchange-held coins are usually easier to sell quickly. Trading activity paints a different picture. Daily turnover stands near $111 million. Exchange balances therefore exceed one full day of trading volume by a wide margin. Market participants often watch this metric closely because large exchange reserves can increase selling pressure during volatile periods.
Many investors confuse three separate figures. Exchange balances represent available supply. Trading volume measures daily market activity. Burned tokens track coins removed from circulation. Each metric serves a different purpose. Looking at only one can create a misleading view. Price performance has remained positive over several shorter time frames. SHIB gained 5.0% during the past week.
The token also rose 10.2% over 30 days and 26.1% over 60 days. Those numbers suggest steady recovery after previous weakness. The longer-term chart tells a tougher story. SHIB remains down 53.3% over the last year. Current levels also sit 93.1% below the October 2021 record high of $0.00008616. A return to that peak would require a fourteenfold increase from today's price.
The daily trading range stretched from $0.00000568 to $0.00000602. That represents a 6.0% swing between the low and high. For buyers in Europe, one million SHIB costs about €5.31. A percentage gain can look dramatic because SHIB trades at very small decimal values. Even modest buying activity can produce noticeable percentage changes. A four percent move from $0.00000571 equals only a fraction of a cent. For that reason, experienced traders focus on volume alongside price.
Turnover near $111 million equals roughly 3.2% of market capitalization. Strong volume can confirm market conviction. Weak volume may signal a less durable move. SHIB delivered one of the strongest daily gains among major cryptocurrencies. However, exchange reserves remain a key factor to watch. More than 88 trillion tokens remain available for quick sale. For investors, volume and exchange balances may reveal more than a single day's price increase.
