[DigitalToday reporter Yoonseo Lee] Shiba Inu's average exchange outflows have fallen 78 percent from a recent peak, weakening an on-chain signal that had supported its price.

U.Today, a blockchain outlet, reported on Sept. 15 that SHIB is facing increased short-term supply pressure as slower exchange outflows coincided with a shift to net inflows.

The key is a decline in average exchange outflows based on the 7-day moving average. The latest figure put average outflows at about 421.6 million SHIB. That is down 55.75 percent from the previous period and nearly 78 percent from the most recent high. A steady flow of tokens leaving exchanges is typically seen as a sign that immediately tradable liquidity is shrinking. This drop means the basis for that interpretation has weakened.

Other exchange indicators are also tilting against SHIB. Total exchange inflows rose 1.07 percent to about 239.28 billion SHIB, while total outflows increased 1.3 percent to about 236.97 billion SHIB. Net inflows posted a positive reading of about 2.31 billion SHIB. That suggests slightly more SHIB is moving into exchanges than leaving them.

Exchange deposits themselves showed no major change. Exchange holdings remained around 8.719 trillion SHIB. There has been no confirmation yet of a surge in large deposit volumes arriving all at once, but the shift to positive net inflows and the drop in average outflows are weakening the earlier supply-side advantage.

Network activity improved slightly. The number of transactions rose 1.22 percent, active addresses increased 1.13 percent and active receiving addresses gained 1.29 percent. Despite those increases, there was no price breakout. SHIB is trading around $0.00000514 and is hovering near short-term moving averages in the $0.0000050 to $0.0000052 range.

On the upside, a long-term moving average around $0.0000056 to $0.0000057 was cited as the biggest resistance level. If the price moves above $0.0000054, the possibility could reopen of retesting the $0.0000056 to $0.0000058 range. If it gives up $0.0000050, the downside could open to $0.0000048 and further to $0.0000045.

What the market is focusing on is a disconnect between on-chain flows and price action. Usage indicators edged higher, but the combination of falling exchange outflows and a shift to net inflows has weakened supply-demand defenses. A 78 percent drop in outflows does not immediately mean additional selling pressure, but with the price sitting in a technically vulnerable zone, the loss of a previous support signal remains a burden.