Shiba Inu adds 150K holders – Why SHIB still faces downside risks

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Shiba Inu’s [SHIB] holder base grew considerably in 2026. Reportedly, SHIB noticed a further 150,017 on-chain holders, bringing its complete to 1,698,647 by the nineteenth of October.

In reality, the determine mirrored a big development from the 1,548,630 holders recorded at the start of the yr 2026. Additionally, SHIB additionally attracted consideration following developments surrounding T. Rowe Price’s proposed multi-asset cryptocurrency ETF.

In specific, the proposed fund recognized SHIB among the many crypto property eligible for potential publicity, providing one other doable avenue for institutional participation.

Here, it’s value noting that the submitting, nevertheless, didn’t affirm precise SHIB holdings or set up a devoted spot ETF. Both developments however highlighted SHIB’s rising attain throughout each the retail and potential institutional markets.

Alongside the enhancing token adoption, SHIB continued lowering its circulating provide via its token-burning mechanism. According to Shibburn on X, the community reportedly burned 111,395 SHIB throughout two transactions throughout the 24-hour interval.

The seven-day complete in the meantime had reached 81,765,038 SHIB, highlighting a continued burning exercise over an extended interval.

Notably, the cumulative burns totaled roughly 410.85 trillion SHIB, representing a good portion of the token’s unique provide.

Rising reserves expose persistent promoting stress

Shiba Inu‘s Exchange Reserves surged as spot buying and selling exercise continued favoring sellers, regardless of the increasing adoption.

CryptoQuant reported the memecoin’s Exchange Reserve USD climbing 3.11% in 24 hours to $449.6 million as of writing, reflecting better trade-held token worth.

This enhance implied probably better promoting availability, although USD-denominated reserves additionally mirrored valuation adjustments. The Spot Taker CVD moreover remained vendor-dominant, which steered a stronger aggressive promoting than shopping for exercise.

These indicators mixed highlighted persistent promoting stress regardless of the enhancing adoption figures of the memecoin. Such situations subsequently positioned better significance on the token’s means to defend its fast technical help.

Source: SHIBA INU Exchange Reserve USD on CryptoQuant

Can SHIB defend its essential weekly help?

At the time of reporting, SHIB traded round $0.00000511 after struggling to maintain its weekly restoration in the direction of the $0.0000060 resistance area. Subsequently, the value rejection pushed the memecoin towards the $0.0000050 help, the place consumers had beforehand defended this help area.

Meanwhile, the CMF indicator confirmed an enchancment towards neutrality, reaching -0.01 as stress round capital outflow eased. On the opposite, the Stochastic RSI highlighted weakening bullish energy. A bearish crossover emerged after the indicator’s current overbought situations, elevating issues about one other potential value decline.

Moreover, SHIB would want to keep up the $0.0000050 help, earlier than one other restoration towards $0.0000060 turns into doable. Alternatively, shedding this key help would expose the $0.00000413 stage, significantly in case the spot sellers preserve sustaining management.