Shiba Inu’s [SHIB] holder base grew significantly in 2026. Reportedly, SHIB saw an additional 150,017 on-chain holders, bringing its total to 1,698,647 by the 19th of October.
In fact, the figure reflected a significant growth from the 1,548,630 holders recorded at the beginning of the year 2026. Additionally, SHIB also attracted attention following developments surrounding T. Rowe Price’s proposed multi-asset cryptocurrency ETF.
In particular, the proposed fund identified SHIB among the crypto assets eligible for potential exposure, offering another possible avenue for institutional participation.
Here, it is worth noting that the filing, however, did not confirm actual SHIB holdings or establish a dedicated spot ETF. Both developments nevertheless highlighted SHIB’s growing reach across both the retail and potential institutional markets.
Alongside the improving token adoption, SHIB continued decreasing its circulating supply through its token-burning mechanism. According to Shibburn on X, the network reportedly burned 111,395 SHIB across two transactions during the 24-hour period.
The seven-day total meanwhile had reached 81,765,038 SHIB, highlighting a continued burning activity over a longer period.
Notably, the cumulative burns totaled approximately 410.85 trillion SHIB, representing a significant portion of the token’s original supply.
Rising reserves expose persistent selling pressure
Shiba Inu‘s Exchange Reserves surged as spot trading activity continued favoring sellers, despite the expanding adoption.
CryptoQuant reported the memecoin’s Exchange Reserve USD climbing 3.11% in 24 hours to $449.6 million as of writing, reflecting greater exchange-held token value.
This increase implied potentially greater selling availability, even though USD-denominated reserves also reflected valuation changes. The Spot Taker CVD additionally remained seller-dominant, which suggested a stronger aggressive selling than buying activity.
These indicators combined highlighted persistent selling pressure despite the improving adoption figures of the memecoin. Such conditions therefore placed greater significance on the token’s ability to defend its immediate technical support.
Can SHIB defend its critical weekly support?
At the time of reporting, SHIB traded around $0.00000511 after struggling to sustain its weekly recovery towards the $0.0000060 resistance region. Subsequently, the price rejection pushed the memecoin toward the $0.0000050 support, where buyers had previously defended this support region.
Meanwhile, the CMF indicator showed an improvement toward neutrality, reaching -0.01 as pressure around capital outflow eased. On the contrary, the Stochastic RSI highlighted weakening bullish strength. A bearish crossover emerged after the indicator’s recent overbought conditions, raising concerns about another potential price decline.
Moreover, SHIB would need to maintain the $0.0000050 support, before another recovery toward $0.0000060 becomes possible. Alternatively, losing this key support would expose the $0.00000413 level, particularly in case the spot sellers keep maintaining control.
Final Summary
- SHIB added 150,017 holders as proposed ETF exposure opened potential institutional opportunities.
- Rising exchange reserves and persistent spot selling could threaten SHIB’s $0.0000050 support.
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