[DigitalToday reporter Jinju Hong (홍진주)] Shiba Inu (SHIB) has seen more than 500 billion tokens leave exchanges over the past 24 hours, signaling accumulation by large holders, but exchange inflows and balances have also risen, leaving the market direction mixed.

On Aug. 4 (local time), blockchain media outlet U.Today reported that total SHIB outflows over the past 24 hours were about 406 billion tokens, while inflows exceeded 603 billion. Net exchange flows were tallied at a net inflow of about 197 billion tokens.

The key is the structure of flows rather than the size of outflows alone. Rising exchange balances are typically seen as a bearish signal because they increase the amount available to sell. By contrast, larger outflows suggest investors are opting for self-custody over immediate selling. SHIB is showing both at once. That implies active two-way trading rather than one-sided distribution selling across the market.

Moves by large holders also stand out. A larger average withdrawal size shows big players are still moving sizable holdings off exchanges. U.Today pointed out that "large holders are still an important variable." The combination of rising exchange reserves and large withdrawals is seen as a signal that the recent SHIB market differs from a simple selling phase.

Price action also reflects this balance. SHIB rebounded sharply from a July low and is trading around $0.00000500. It has been moving above the 26-day and 50-day exponential moving averages since last week's breakout, but is continuing to pause just below the 100-day exponential moving average. That zone was presented as a key resistance line where upside attempts have repeatedly been blocked this year.

Near-term supply and demand still leans somewhat toward buyers. The Relative Strength Index is above 60, suggesting it is not in an overheated zone, but buying interest is seen as leading the short-term move. The recent rebound was also accompanied by the biggest increase in trading volume in months. U.Today said the breakout was "technically more reliable" than previous rebound attempts.

On-chain indicators have also improved slightly. The number of sending and receiving addresses rose modestly, suggesting network participation is picking up. The shift is not large, but it shows the recent move was not created solely by derivatives speculation. U.Today assessed that "buyers are still in the market."

The market's next direction now depends on how much buying demand absorbs additional supply building up on exchanges. A break above the 100-day exponential moving average alongside rising volume could lead to a broader rebound. If exchange balances keep rising and buying activity weakens, it may be difficult to hold on to recent gains.

SHIB's price is now moving between accumulation signals from large-holder withdrawals and an increase in potential selling supply created by tokens flowing back onto exchanges. In the near term, whether it breaks above the 100-day line and the trend in exchange inflows remain key indicators for SHIB's next turning point.