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Binance’s latest proof-of-reserves report for February 2026 shows a contraction in Shiba Inu (SHIB) reserves on the exchange, alongside a large reported outflow. Total SHIB reserves fell from 53.27 trillion to 52.54 trillion tokens over the month, a decline of 1.38%—equivalent to more than 733 billion SHIB leaving the platform.
According to the February 2026 proof-of-reserves report, SHIB experienced a period described as “soft unloading,” reflecting changes in the behavior of large holders. Over the month, total SHIB reserves on Binance declined from 53.27 trillion to 52.54 trillion tokens.
In percentage terms, this represents a drop of 1.38%. While the percentage change may appear modest, the absolute figure is substantial: more than 733 billion SHIB moved out of exchange reserves.
A key detail in the report is that user balances and the exchange’s own reserves decreased in a closely matching way. This pattern suggests Binance was not simply selling its own holdings; instead, it appears to have responded to client withdrawals while maintaining a coverage ratio of 100.17%.
The report also notes that 33.79 billion SHIB held in third-party custodial storage remained unchanged. This portion is described as a protected reserve kept outside Binance’s hot wallets to support security.
Despite the outflow, Binance remains a major holder of SHIB, controlling about 9% of the token’s total market supply.
The report’s findings can be interpreted in two ways. First, the reduction in exchange-held SHIB may reflect lower speculative interest, with some participants locking in profits or reallocating capital to other assets.
Second, large withdrawals from exchanges are often viewed as a bullish signal in cases where investors move tokens to cold wallets for longer-term holding. In that scenario, reduced exchange balances can also mean less immediate selling pressure.
Overall, the February report indicates Binance’s full solvency with respect to SHIB, while also documenting a local shift of token holdings from exchange order books into private hands. The result may be a more distributed SHIB market, alongside continued confidence in Binance as a custodian based on the reported coverage metrics.
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