The post Shiba Inu price at risk, whales sell, exchange reserves rise appeared on BitcoinEthereumNews.com. Shiba Inu price remains under pressure and is hovering near its lowest level this year as demand wanes. Summary Shiba Inu price has formed a descending triangle pattern. Whales and smart money investors have dumped their tokens. SHIB exchange reserves have continued falling this year. Shiba Inu (SHIB) token dropped to $0.0000092, a few points above the year-to-date low of $0.0000083. It has been one of the top laggards in the crypto industry, plunging by 72% from its highest point this year.  Shiba Inu’s crash has happened because of the lack of demand from investors. Data compiled by CoinMarketCap shows that its volume in the spot market has tumbled to below $200 million. Its futures open interest has also remained substantially low in the past few months.  The drop also happened as whales exited their positions, a sign that investors expect it to drop further. Whales now hold 102 billion tokens, well below the 220 billion they had in late October this year. Public figures and so-called smart-money investors have recently reduced their Shiba Inu positions. Savvy money investors hold 43 billion tokens, while public figure investors hold 399 billion tokens, down by 23% and 4.8% over the last 30 days, respectively.  These dynamics apply to Shiba Inu and other meme coins. A closer look shows that whales have dumped tokens like Pepe and Dogwifhat.  On the positive side, the number of Shiba Inu tokens on exchanges has dropped to 277 trillion, down from 295 trillion in October last year.  SHIB exchange reserves are falling | Source: Nansen Falling exchange reserves is a good thing as it shows that many holders are moving their tokens to their self-custody wallets. However, this is not enough of a factor to boost its price, as the token faces other challenges. For example, its… The post Shiba Inu price at risk, whales sell, exchange reserves rise appeared on BitcoinEthereumNews.com. Shiba Inu price remains under pressure and is hovering near its lowest level this year as demand wanes. Summary Shiba Inu price has formed a descending triangle pattern. Whales and smart money investors have dumped their tokens. SHIB exchange reserves have continued falling this year. Shiba Inu (SHIB) token dropped to $0.0000092, a few points above the year-to-date low of $0.0000083. It has been one of the top laggards in the crypto industry, plunging by 72% from its highest point this year.  Shiba Inu’s crash has happened because of the lack of demand from investors. Data compiled by CoinMarketCap shows that its volume in the spot market has tumbled to below $200 million. Its futures open interest has also remained substantially low in the past few months.  The drop also happened as whales exited their positions, a sign that investors expect it to drop further. Whales now hold 102 billion tokens, well below the 220 billion they had in late October this year. Public figures and so-called smart-money investors have recently reduced their Shiba Inu positions. Savvy money investors hold 43 billion tokens, while public figure investors hold 399 billion tokens, down by 23% and 4.8% over the last 30 days, respectively.  These dynamics apply to Shiba Inu and other meme coins. A closer look shows that whales have dumped tokens like Pepe and Dogwifhat.  On the positive side, the number of Shiba Inu tokens on exchanges has dropped to 277 trillion, down from 295 trillion in October last year.  SHIB exchange reserves are falling | Source: Nansen Falling exchange reserves is a good thing as it shows that many holders are moving their tokens to their self-custody wallets. However, this is not enough of a factor to boost its price, as the token faces other challenges. For example, its…