[Digital Today intern reporter Seung-a Yoo] Shiba Inu (SHIB) is trading around $0.00000541 after a sharp drop in early October.

U.Today, a blockchain outlet, reported on Oct. 11 (local time) that while SHIB has fallen sharply from a late-September high of $0.00000626, a slowdown in selling pressure is being flagged. Outflows of SHIB from exchanges exceeded inflows, signaling holders are not rushing to sell.

In technical analysis, SHIB remains below its long-term moving average of $0.00000560. That level is a key benchmark for judging whether the trend is turning. SHIB has repeatedly met resistance in the $0.00000550 to $0.00000560 range. The short-term support level is $0.00000530.

That support held in recent candlesticks. On Oct. 6, however, the low fell to $0.00000510. That level could act as the next support, with $0.00000500 below it.

On-chain data show mixed signals. Over the past 24 hours, SHIB's net exchange outflow was about 27.3 billion tokens, with more tokens leaving exchanges than entering. Exchange reserves also edged lower. But the seven-day average exchange inflow rose about 13 percent in a day, indicating some investors are still selling.

If SHIB posts a daily close above $0.00000560 on strong trading volume, buyers may gain the upper hand. The next target prices would be $0.00000580 and $0.00000600. Continued net exchange outflows could support that upside scenario. If the price closes below $0.00000510, the chance of a trend reversal weakens. The next support range is $0.00000470 to $0.00000450, where summer lows formed.

Exchange flow is an indicator that tracks the volume of crypto flowing into or out of exchanges. Coins entering exchanges may be supply waiting to be sold, while coins moved to private wallets may be transfers for long-term holding.

Over the past 24 hours, about 133.8 billion SHIB flowed into exchanges and about 161.1 billion flowed out. That produced a net outflow of about 27.3 billion. It is a mild bullish signal suggesting potential sellable supply remaining on exchanges is shrinking.

The seven-day trend is similar. Exchange reserves, the total amount of SHIB held on exchanges, declined over about a week. By value in dollars, holdings fell about 1.5 percent in a day to about $471.5 million (about 634 billion won). If exchange reserves decline, the amount available for short-term selling falls, which could support prices over the longer term.