Shiba Inu (SHIB) exchange outflows have plunged, adding pressure to expectations of a near-term rise.

U.Today, a blockchain media outlet, reported on Sept. 3 that SHIB’s average exchange outflow based on the seven-day moving average was about 261.7 million SHIB, down 75.55 percent from the previous level.

Exchange outflows generally refer to tokens moving from trading platforms to personal wallets. A sharp rise is often read as a sign of accumulation or a reduction in readily sellable supply. But a drop of more than 75 percent, as seen this time, means that such accumulation momentum has weakened.

Inflow indicators moved in the opposite direction. The seven-day moving average of average exchange inflows rose 24.13 percent to 595.68 million SHIB. Total exchange inflows also increased 1.48 percent to about 398.35 billion SHIB. In the short term, the weight has shifted toward deposits rather than withdrawals.

SHIB balances on exchanges also rose slightly. Exchange holdings were tallied at about 8.721 trillion tokens, up 0.29 percent. A large amount on exchanges does not necessarily lead directly to selling, but it is read as a supply-and-demand burden because it increases the tokens holders can immediately bring to market.

Still, there is not yet a clear sign that the broader market has tilted toward a sell-off. Net total exchange inflows fell 10.29 percent. The outlet also said, "The data do not suggest a full capitulation phase." The key is the simultaneous rise in inflows and drop in average outflows. Prices are holding up, but based on exchange data alone, it is not a picture that bulls would favor.

Price action is still holding support levels. SHIB was trading at about $0.00000524 and remained above a short-term cluster of moving averages formed between $0.00000503 and $0.00000499. The uptrend line that has continued since the August low is also still intact. The outlet assessed that "the price structure has so far been absorbing pressure quite well."

The next level to watch is $0.00000569, where the 200-day moving average sits. If it breaks above that line, the overall technical structure could improve noticeably. If the $0.00000500 support level breaks, it could open the possibility of a renewed drop toward around $0.00000478, where the 50-day moving average is located.

In this situation, a recovery in the volume moving off exchanges has become important for short-term buying to regain strength. For now, SHIB remains in a rebound zone, but if the outflow collapse continues, the phase could shift to one in which managing selling pressure becomes more important than attempting additional gains.