As the overall cryptocurrency market continues to experience a long-term decline, South Korea's largest cryptocurrency exchange Upbit seems to have seized the opportunity to increase its holdings of Shiba Inu at a lower price.

The latest data from the blockchain intelligence company Arkham shows that the holdings of Shiba Inu in Upbit have increased significantly, and it appears that exchanges are still continuing to accumulate this asset.

The SHIB position of Upbit has reached $284 million.

Despite the continuous downward trend in the market, as of November 11, 2026, Upbit held Shiba Inu tokens, which amounted to 64.16 trillion Shiba Inu ( SHIB ) tokens.

According to the data from Arkham Intelligence, and calculated at the current price of Shiba Inu, the total value of Shiba Inu held by this exchange is approximately 284 million US dollars, making it one of the largest holders of Shiba Inu.

Further details on the platform show that these tokens are stored in a wallet labeled as belonging to Upbit, indicating that they continue to be accumulated.

Recent reports indicate that an audit conducted in August 2026 also confirmed that its SHIB reserves exceeded user liabilities, further indicating that the exchange has a significant exposure to this leading meme token.

Upbit becomes the largest holding entity for SHIB

Apart from Upbit, the data shows that other large companies also hold a significant amount of SHIB, but Upbit remains the entity with the largest holding of SHIB.

Robinhood holds approximately 39.27 trillion SHIB, which is valued at around 174.37 million US dollars at the current SHIB price, accounting for about 3.93% of the total supply of this asset.

Although Upbit is the largest holder of SHIB, data shows that the destruction address SHIB is still the largest holder, possessing approximately 410.44 trillion SHIB, which accounts for about 41.04% of the total supply of SHIB.