Binance users significantly increased their Shiba Inu (SHIB) holdings throughout July, accumulating an additional 502.76 billion tokens.
By August 1st, user balances on the major cryptocurrency exchange had reached a substantial 55.83 trillion SHIB tokens. This latest acquisition highlights ongoing investor interest in the meme coin despite broader market conditions.
Concurrently, Binance’s own SHIB reserves were reported at 55.72 trillion tokens, exceeding user balances and resulting in a specific reserve ratio of over 100%.
The observed period of accumulation, spanning July, coincided with relative price stability for SHIB. The token consistently traded within the narrow band between $0.00001200 and $0.00001350.
Binance reinforces its position as one of the largest holders of SHIB, underlining the exchange’s considerable influence and role within the meme coin’s market ecosystem.