Upbit Dogecoin and Shiba Inu Holdings Cross $1.1 Billion
Key Summary
On-chain analytics firm Arkham reports South Korean exchange Upbit holds $1.10B in Dogecoin and Shiba Inu tokens, representing massive supply concentration as both assets test yearly price lows and struggle against persistent downward momentum across major order books.
Key Bullets
- On-chain data compiled by Arkham confirms South Korean exchange Upbit holds $1.1B in combined Dogecoin and Shiba Inu reserves.
- Upbit wallets contain 11.77 billion DOGE valued at $816.81M and 64.13 trillion SHIB valued at $284.75M.
- Dogecoin trades near $0.0693 after sliding 35.00% from its September peak, with the RSI currently sitting at 35.00.
- Shiba Inu trades at $0.00000443 following a break of its ascending trendline, leaving exchange reserves heavily concentrated on Upbit.
Upbit Holds Massive Memecoin Reserves
South Korean digital asset exchange Upbit holds $1.10B in combined Dogecoin and Shiba Inu tokens according to on-chain wallet tracking data published Tuesday by Arkham. Arkham monitoring confirms the exchange maintains $816.81M in DOGE alongside $284.75M in SHIB within its cold and hot wallet infrastructure. These balances represent the venue largest asset concentrations outside of baseline major allocations in Bitcoin, Ethereum, and Solana within a total reserve base of $22.06B.
The total token count sits at 11.77 billion DOGE and 64.13 trillion SHIB. Upbit holds roughly three quarters of all SHIB tokens currently stored across global CEX wallets based on comparative order book metrics.
The concentration of retail capital on a single trading venue creates distinct supply overhang risks. Dogecoin reserves on the platform climbed to record highs over multi-year accumulation cycles. Traders monitor these order books closely for sudden withdrawal spikes.
Token Prices Test Yearly Lows
Dogecoin trades at $0.0693 after breaking below all major moving averages and shedding 35.00% from its September peak near $0.105. Price action touched a yearly low of $0.0675 during recent sessions. Shiba Inu trades at $0.00000443 after slicing through an ascending trendline that provided structural support since July. Immediate downside risk points toward the July swing low of $0.0000041. The RSI for both assets hovers near 35.00.
Market participants noted limited relief from minor outflow events. Exchange data shows 144 billion SHIB left Upbit over a twenty-four hour window. Inflows simultaneously reached 183 billion tokens. Net exchange reserves dropped by just 0.17% during the period. Heavy selling pressure continues to weigh on both order books.
The Evolution of South Korean Cold Storage Mandates
Today's development follows an established trajectory that began on Nov 4, 2026, when South Korean financial regulators issued stringent mandates requiring virtual asset service providers to upgrade cold-wallet security protocols. Those regulatory filings forced domestic digital asset exchanges and custodians to overhaul internal risk management frameworks. Under the rules established during that governance push, virtual asset platforms were ordered to maintain at least 80% of customer digital assets in offline cold storage mechanisms with multi-sig access. Compliance officers faced personal liability if custody procedures failed strict audit standards, permanently altering how regional exchanges manage multi-billion-dollar memecoin reserves.
Impact score:3 out of 5 | Narrative Tracker:Exchange Operations & Market Liquidity
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