Shiba Inu (SHIB) is facing continued selling pressure as exchange reserves decline, leaving traders watching the 86 trillion token threshold and the potential return of demand during a renewed meme season.

Exchange reserves reportedly dropped to 87.06 trillion SHIB, and net outflows reached 33.94 billion tokens during the last 24 hours. The token faces resistance near 0.000498–0.000500 after an intraday decline, while support remains around 0.000490–0.000491. A reserve drop below 86 trillion SHIB could attract attention, but stronger buying demand remains essential for any recovery.

Exchange Withdrawals Put SHIB Supply in Focus

Shiba Inu is showing mixed market conditions, as falling exchange reserves coincide with continued price weakness and expectations of another meme season.

In a post on CoinMarketCap's community platform, CryptoCeek reported that SHIB reserves had declined to 87.06 trillion tokens. The post also cited a negative netflow of 33.94 billion SHIB over 24 hours, suggesting that more tokens reportedly left exchanges during the period than entered.

Exchange reserve levels are among the most closely watched metrics in crypto market analysis, since tokens held on trading platforms represent the supply most readily available for sale at any given moment.

The withdrawals indicate that holders may be pulling tokens off trading platforms. However, these transfers do not reveal whether an investor intends to sell or retain their holdings. Exchange data provides valuable context, but it does not prove accumulation.

In a post on X, Terra Army raised the possibility that SHIB could benefit when meme season returns. Meme season is an informal term for stretches when meme coins collectively draw concentrated retail attention, a dynamic that has historically shaped attention cycles for SHIB. Renewed interest could attract traders seeking exposure to meme coins, although the available information does not confirm that demand is already increasing.

Price Movement Shows Continued Selling Pressure

Chart data published via CoinMarketCap shows SHIB trading at 0.0004957, below its opening level near 0.0005076. The price declined through much of the session despite several recovery attempts, and sellers maintained control as rebounds failed to regain earlier levels.

A sharp drop around 4:00 PM pushed the price toward 0.000491. Buyers subsequently lifted the price away from that low, but the recovery stalled below previous highs, leaving the short-term trend under pressure.

The 0.000490–0.000491 range marks the nearest visible support area. A break below this zone could expose SHIB to further losses. Resistance stands near 0.000498–0.000500, with the opening level around 0.0005076 providing another reference point.

The 86 Trillion Threshold Remains on Watch

CryptoCeek identified 86 trillion SHIB as a reserve level worth monitoring. A decline below that figure would extend the reported reduction in exchange-held supply, though a break of that level alone would not mean prices would rise. At the reported figures, the distance between 87.06 trillion tokens and the 86 trillion mark is roughly 1.06 trillion tokens — about 30 times the size of the latest 24-hour net outflow — which puts the gap in proportional terms.

A stronger signal would involve falling reserves combined with rising prices and rising spot volume. That combination could indicate that buyers are absorbing available selling pressure. Without increased demand, declining exchange balances may have limited influence on price.

Meme-season expectations also depend on broader market sentiment. Renewed community interest could bring SHIB back into traders' attention, but social engagement alone cannot sustain a rally without continued buying activity.

Bitcoin's direction and conditions across the altcoin market remain relevant. Increased speculative interest could lead to renewed attention on SHIB, while poor market conditions may continue to drive selling.

For now, the reserve figures and price levels offer two areas to monitor. A move below 86 trillion tokens would provide another data point, not confirmation of a rally. SHIB's direction will depend on whether stronger demand emerges alongside declining exchange reserves.