[DigitalToday reporter Yoonseo Lee (이윤서)] Shiba Inu’s exchange inflows have risen sharply, but outflows were larger, making it hard to conclude the market drop has stopped, an analysis showed.

Blockchain media outlet U.Today reported on Aug. 17 local time that Shiba Inu’s exchange-related indicators have recently surged, but the actual supply-demand structure still leans to the bearish side.

The most notable metric is exchange inflows. Based on a seven-day moving average, average exchange inflows rose about 128 percent on short-term indicators, and increased 87.76 percent over the past 24 hours. Total exchange inflows also rose 1.9 percent to about 147.57 billion SHIB.

But rising inflows alone make it hard to label it a rebound signal. Tokens moved to exchanges can be traded more easily, potentially increasing selling pressure. Exchange outflows rose 4.27 percent over the same period to 234.62 billion SHIB, leaving net exchange flows at about minus 87.01 billion SHIB.

Large transactions showed a similar pattern. Inflows to the top 10 exchanges were about 3.32 billion SHIB, but outflows exceeded that at 4.51 billion SHIB, up 9.86 percent.

As supply moved off exchanges, potential selling pressure showed a somewhat easing trend. Exchange holdings fell 0.1 percent to about 87.32 trillion SHIB, but the price is still trading below key moving averages at about $0.00000443. Short-term resistance is formed in the $0.00000447 to $0.00000457 range, with $0.00000490 presented above that. The long-term moving average is $0.000577, leaving a noticeable gap from the current price.

Momentum indicators are also failing to show a clear rebound signal. The relative strength index (RSI) is about 44, suggesting bearish momentum continues rather than a shift higher. That is why analysts say improved exchange flows alone are unlikely to reverse Shiba Inu’s decline.

The key question is whether net outflows will translate into actual buying demand. Falling exchange holdings can be a positive signal on the supply side, but without demand support it is difficult to lead to a price rebound. If Shiba Inu fails to break through the $0.00000457 to $0.00000490 resistance zone, the current bearish trend is likely to continue.

The latest pattern shows it is difficult to judge market direction based on a surge in exchange inflows alone. Shiba Inu has shown supply-side improvement signals such as net outflows and falling holdings, but price is ultimately determined by demand and whether it breaks technical resistance.