SHIB Price Slips as Rising Exchange Reserves Offset Japan Boost

Shiba Inu is dealing with two opposing forces. On one side, the popular meme coin is gaining major institutional support in Asia through a big corporate acquisition. On the other side, short term selling pressure and rising exchange balances are holding the price back. The coin recently traded around $0.00000409 as buyers struggle to build upward momentum.

The positive news comes from Japan, where financial giant SBI Holdings completed its acquisition of Singapore based exchange Coinhako. Through this deal, SBI took custody of 1.111 trillion SHIB, worth about $4.5 million. While this is a custody transfer rather than a direct market purchase, it gives the token massive exposure to regulated Asian markets.

However, on chain data shows why the price is still struggling. Even though about 97.64 billion SHIB left exchanges on net over a 24 hour period, total exchange reserves climbed to 86.497 trillion SHIB. This growing pool of tokens sitting on trading platforms suggests that sellers are ready to cash out, putting a lid on any potential rallies.

For now, traders are focusing heavily on these immediate exchange flows rather than the long term adoption story. Keep an eye on whether these exchange reserves start to shrink again, which could signal that holders are moving their tokens back into private wallets for the long haul.