Shiba Inu: The Meme Coin That Could Bark Its Way to New Heights 🐕💰

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Well, well, well, what do we have here? Shiba Inu’s exchange reserves have hit a new low, the lowest level since 2023, and if you’re thinking this might just be the prelude to a parabolic rally, you might be onto something. 🚀

Shiba Inu’s Exchange Reserves Hit Lowest Level Since 2023

CryptoQuant data, which is about as reliable as a weather forecast in Ankh-Morpork, shows that Shiba Inu’s exchange reserves have plummeted to their lowest level since January 2023. This means that the amount of SHIB held in wallets linked to crypto exchanges is at a record low. Why? Because the whales, those big, slippery fish, have been hoovering up SHIB and stashing it in cold storage for long-term holding. 🐳

Now, this is where it gets interesting. A price surge could be on the horizon, with Shiba Inu potentially barking its way to new highs. In 2023, as the exchange reserves began to dwindle, SHIB experienced a God candle, which sent its price soaring above the psychological $0.00003 level. The meme coin surged from a low of around $0.000007, which is about as much as a single grain of sand in the Discworld. 🌌

IntoTheBlock data, which is as cryptic as a wizard’s spellbook, also suggests that Shiba Inu whales are back to accumulating SHIB. This could spark a rally as demand starts to outweigh supply. Over the last week, SHIB’s largest transactions have been steadily climbing from the lows recorded in June, when the meme coin fell to the support level at $0.000010. 📈

It’s also worth noting that Shiba Inu’s correlation with Bitcoin is 0.92, which is like saying they’re practically twins. As such, the meme coin could also skyrocket if the leading crypto targets new all-time highs (ATHs). BTC is looking to reclaim the $120,000 psychological level, a development that could help SHIB maintain its momentum as it rallies towards $0.000020. 🌠

Another Rally To $0.000030 In Sight For SHIB

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2025-07-17 17:11