[Digital Today reporter Jinju Hong] Shiba Inu (SHIB) recorded exchange inflows of about 96 billion SHIB in a day, putting it back under selling pressure. Overall flows remained net outflows, but an analysis said the large volume moving to exchanges in a market with weak demand could increase near-term price pressure.

On July 13 local time, blockchain media outlet U.Today reported that over the past 24 hours Shiba Inu’s exchange inflows totaled about 96 billion SHIB, while outflows were about 112 billion SHIB.

Outflows exceeded inflows, producing net outflows overall, but the market is focusing on the absolute volume moved to exchanges rather than whether flows are net outflows. Exchange inflows are generally interpreted as investors moving holdings into a tradable state to sell or adjust positions.

The expanded inflows are being viewed more sensitively because Shiba Inu’s price has stayed near $0.0000042 even after months of declines. If available supply on exchanges increases when buying demand is not sufficient, it could lead to additional downward pressure.

Technical trends also lean bearish. On the daily chart, Shiba Inu’s price is below the 50-day, 100-day and 200-day exponential moving averages (EMA). Trading below key moving averages is interpreted as a signal that a medium- to long-term downtrend is continuing.

Shiba Inu formed a rising wedge pattern earlier this year but later broke down. No clear trend reversal has appeared since, and rebound attempts in June and July were also blocked by selling, forming lower highs than before.

Exchange fund flows also support this bearish structure. U.Today analyzed that the movement of a large volume of tokens to exchanges could indicate that some holders may be preparing to sell or reshuffling their holdings.

Exchange inflows do not necessarily mean immediate selling. Investors can move assets to exchanges for portfolio adjustments, arbitrage or liquidity needs. The fact that total exchange reserves have remained relatively stable was also cited as grounds that panic selling has not entered a full-blown stage.

Signals confirming buying interest remain insufficient. Trading volume has not reached the levels seen in past upswings, and momentum indicators are staying in bearish territory. The relative strength index (RSI) is also below 50, the neutral baseline. This is interpreted as meaning market participants lack conviction to buy and that upward momentum capable of driving a rebound is weak.

The market views sellers as still holding control over Shiba Inu’s current price action. That is because the bearish structure on charts has persisted while daily exchange inflows came in at a level close to 100 billion SHIB.

As a result, an analysis said Shiba Inu is unlikely to easily change its short-term trend as long as weak demand and repeated failed rebounds persist, even as net exchange outflows continue. It said caution is needed over additional selling pressure until there is a clear increase in volume and a recovery above key moving averages.