- Crypto analyst Zayn highlights that Shiba Inu’s exchange reserves have dropped to a two-year low.
- With historical October performance and a possible technical breakout, SHIB could be poised for a bullish “Uptober” rally.
Shiba Inu (SHIB) may be setting the stage for a major October rally as exchange reserves for the token hit a two-year low, according to top crypto analyst Zayn.
In a recent X post, Zayn highlighted that SHIB’s holdings on centralized exchanges have dropped to 84.55 trillion tokens, the lowest level since 2023, sparking fresh optimism among investors and traders anticipating a so-called “Uptober” rally.
Falling Exchange Reserves Signal Reduced Selling Pressure
Data from CryptoQuant shows that in January 2023, approximately 190 trillion SHIB were held on exchanges. By the start of 2025, that figure had declined to 140 trillion, and recent trends reveal a further drop to just 84.49 trillion.
Zayn noted that much of this movement reflects tokens being shifted into self-custody and staking, reducing the supply readily available for sale on exchanges.
$SHIB exchange reserves Falls to 84.55T tokens (~$998M), the lowest since 2023…. What This Means For Price?🐾
Fresh on-chain data suggesting tokens are moving into self-custody/staking instead of sitting on exchanges.
Why it matters 👇
🔥 Shrinking supply = less sell… pic.twitter.com/ZIkNm1Ovv7— Crypto Zayn (@Zaynnode) September 29, 2025
Historically, declines in exchange reserves have often preceded accumulation phases, where long-term holders increase their positions. With SHIB now entering such a phase, conditions may be forming for the next upward momentum in price.
Reduced supply on exchanges could decrease selling pressure and create a bullish environment for the token.
Technical Outlook and Potential Uptober Rally
On the technical side, SHIB is trading near $0.000011, below a descending resistance trendline. Zayn suggested that a decisive breakout above this level could act as a catalyst for a broader rally, potentially marking the start of “Uptober.” The term has gained popularity in the crypto community due to October’s historical tendency for strong market gains.
Shiba Inu has shown significant October performance historically, with its all-time high of $0.00008845 recorded in October 2021. The token closed October 2022 and 2023 with gains of 10.4% and 6.04%, respectively. Even last year’s weaker rally posted a modest 2.46% gain, and historically, SHIB has averaged 213% growth in Octobers across its trading history.
Shiba Inu’s Current Performance
Despite the positive indicators, SHIB has yet to fully capitalize on the broader crypto rally leading into Q4 2025, which begins on October 1. After briefly climbing above $0.000012 yesterday, SHIB has pulled back slightly and currently trades at $0.00001187.
Nevertheless, market sentiment remains bullish, and the combination of falling exchange reserves, historical October strength, and potential technical breakouts provides a favorable setup for investors looking at the next phase of SHIB’s price movement.
While nothing is guaranteed, the stage appears set for Shiba Inu to potentially join other cryptocurrencies in a seasonal rally, with the next few weeks likely to be critical in determining whether “Uptober” delivers another round of significant gains for the meme token.
