Cryptocurrency exchange Bybit has announced that it holds 2.94 trillion Shiba Inu (SHIB) tokens. This comes amid shifts in institutional ownership across the crypto market.
Bybit Audit Data on SHIB Tokens
As part of its 25th audit series, Bybit disclosed its ownership of 2.94 trillion SHIB tokens, highlighting the significance of Shiba Inu among its assets. SHIB frequently appears in user portfolios on the platform. The audit also revealed that Bitcoin reserves grew by 5.6%, totaling 58,954 BTC, and Ethereum reserves increased by 6.5%, reaching 604,131 ETH.
Major Exchanges Accumulate SHIB Tokens
Bybit is not the only exchange holding significant Shiba Inu reserves. Binance, one of the leading exchanges, stores about 60 trillion SHIB tokens, while Robinhood has approximately 39 trillion. These accumulations suggest growing institutional confidence in SHIB and confirm a high level of user demand.
Shiba Inu Ecosystem Updates and New Horizons
Shiba Inu developers have announced several ecosystem upgrades, including the Torii Gateway, which now supports over 1500 tokens across multiple blockchains. A major update to Shibarium has also been released, containing new guides for setting up validator nodes. Technical analysis indicates that SHIB may be forming an Inverse Head and Shoulders pattern, with a potential price target of $0.000081, representing a 540% increase from current levels.
With the latest news of substantial SHIB holdings on major exchanges and significant ecosystem upgrades, Shiba Inu continues to attract institutional investor attention, confirming its importance in the crypto market.
