Analysts Eye Massive Shiba Inu Rally as "Uptober" Commences
As October unfolds, Shiba Inu (SHIB) is once again capturing the crypto community's attention. After weeks of stagnant sideways movement below the $0.000012 mark, the popular meme coin is showing promising signs, with on-chain data pointing towards a potential price explosion reminiscent of past "Uptober" surges. Leading crypto analysts are highlighting critical on-chain metrics that suggest a significant shift in market dynamics. According to data from CryptoQuant, Shiba Inu's exchange reserves have plummeted to their lowest levels since 2023, now standing at approximately 84.55 trillion tokens, valued around $998 million. This sustained outflow of SHIB from centralized exchanges to self-custody or staking platforms indicates a shrinking supply available for immediate selling, historically a strong precursor to bullish price action. While a brief period in September saw a rejection near $0.0000146 trigger a temporary increase in reserves as short-term traders took profits, the overall trend of tokens leaving exchanges has swiftly resumed. This depletion of exchange reserves carries substantial weight in SHIB's price outlook. A reduced supply on exchanges typically translates to lower selling pressure, creating an environment ripe for upward price movement. Historical patterns reveal that such significant drops in reserves often precede strong accumulation phases, laying the groundwork for subsequent rallies. Technically, SHIB currently trades just beneath a descending resistance trendline, characterized by a series of lower highs and higher lows since May 2025. A decisive break above this critical resistance point would align with the bullish sentiment fueled by the on-chain data, potentially unleashing a new wave of investor interest. Adding further conviction to these predictions is Shiba Inu's impeccable track record in October. Since its inception, SHIB has never experienced a "red" October, consistently closing the month in profit, even navigating the bear market of 2022 with a positive return. This unique "Uptober" phenomenon, combined with the current favorable on-chain metrics and a poised technical setup, is why analysts are increasingly confident that Shiba Inu is on the cusp of another monumental rally. As of writing, Shiba Inu is trading at $0.00001261, reflecting a 2.4% increase over the last 24 hours, hinting that the anticipated movement may already be underway.
