Shiba Inu (SHIB) could be gearing up for a strong October performance, with crypto analyst Zayn suggesting the meme token may stage an “Uptober” rally.
The bullish call comes as fresh on-chain data reveals that SHIB’s exchange reserve have fallen to their lowest level in two years.
According to CryptoQuant, just 84.55 trillion SHIB tokens remain on exchanges, marking the lowest balance since 2023. This represents a steep decline from January 2023, when CryptoQuant data showed nearly 190 trillion SHIB tokens on trading platforms.
The trend has been consistent, falling to 140 trillion at the start of 2025 before reaching 84.55 trillion as of September 2025.
Why Declining Shiba Inu Exchange Reserve Matter
The decline in SHIB exchange reserve suggests that tokens are being moved into self-custody wallets or staked, reducing selling pressure.
Historically, such declines have signaled the start of accumulation phases, as long-term holders strengthen their positions.
Zayn explained that these conditions often pave the way for renewed upward momentum in the market.
“Fresh on-chain data suggests tokens are moving into self-custody and staking instead of sitting on exchanges,” Zayn noted. “Technical analysis shows a descending resistance trendline; breakout could fuel an ‘Uptober’ rally,” he concluded.
Shiba Inu Uptober Rally: Technical Outlook and Historical Performance
At the time of writing, SHIB is trading near $0.0000122, with the token struggling beneath a descending resistance trendline. Analysts believe that a decisive breakout above this technical barrier could trigger a broader rally.
The optimism is reinforced by Shiba Inu’s historical October performance. The token famously reached its all-time high of $0.00008845 in October 2021. Since then, it has closed October with gains of 10.4% in 2022, 6.04% in 2023, and 2.46% in 2024.
On average, SHIB has posted an impressive 213% growth during October, highlighting the month’s bullish reputation among crypto enthusiasts.
While history does not guarantee a repeat, the broader crypto market is already showing signs of recovery, with bitcoin and several assets posting modest gains as Q4 2025 begins. SHIB, however, has yet to fully participate in the rally.
With the Shiba Inu exchange reserve shrinking, technical signals promising, and October’s track record favouring bulls, many in the community believe SHIB could be preparing for its next leg upward.
