- Shiba Inu exchange reserves drop to 84.55 trillion tokens, lowest since 2023.
- Analyst Zayn identifies descending trendline breakout as potential catalyst.
- October historically delivers average 213% gains for Shiba Inu token.
Cryptocurrency analyst Zayn has highlighted bullish indicators for Shiba Inu entering October, citing exchange reserve levels that have reached their lowest point in two years. The analyst shared the observation through social media, drawing attention to supply dynamics that could support price appreciation.
Data from CryptoQuant shows SHIB exchange reserves currently stand at 84.49 trillion tokens. This marks a considerable decline from January 2023 levels when approximately 190 trillion tokens were held on exchanges.
The downward trajectory continued throughout the year, with reserves falling to 140 trillion tokens at the start of 2025. The continued reduction in exchange-held supply suggests tokens are moving to private wallets, potentially reducing selling pressure.
Shiba Inu technical patterns align with seasonal trends
Zayn’s technical analysis identifies SHIB trading near $0.000011 while positioned below a descending resistance trendline. The analyst suggests a breakout above this technical level could trigger upward price movement during October.
The crypto community has adopted the term “Uptober” referencing October’s historical tendency toward bullish price action. Shiba Inu has participated in this seasonal pattern across multiple years.
The token achieved its all-time high of $0.00008845 during October 2021. Subsequent October periods delivered mixed but generally positive results, with the token gaining 10.4% in October 2022 and 6.04% in October 2023.
Last year’s October produced the weakest rally at 2.46% gains. However, averaging all October performances yields approximately 213% growth, though past performance does not guarantee future results.
Current market positioning shows mixed signals
The fourth quarter of 2025 begins on October 1, with market participants expressing optimism about potential rallies. Some traders anticipate the next phase of the current market cycle could commence during the month.
Several digital assets have posted modest gains as market sentiment improves. Shiba Inu has not yet participated in the recent upward movement despite the positive technical and on-chain indicators.
SHIB briefly climbed above $0.000012 during the previous trading session before retreating. The token currently trades at $0.00001187, showing limited movement despite the reduced exchange supply.