Shiba Inu’s exchange outflow indicator fell 66.52 percent in a day.

U.Today, a blockchain outlet, reported on Aug. 18 local time that as Shiba Inu holders’ movement off exchanges has rapidly slowed, the trend of declining supply on exchanges, typically read as a bullish factor, has also weakened.

The current 7-day average exchange outflow is about 368.18 million SHIB. Because outflows typically coincide with investors moving tokens to personal wallets, the decline suggests the effect of reducing supply that could be immediately released to the market is weakening.

A drop of more than 66 percent in outflows does not mean that an equivalent amount of tokens has newly entered the market. Net inflow remained negative at about -49.82 billion SHIB, and total exchange holdings also fell 0.06 percent. With inflows also down, there is still no clear signal that large-scale sell orders are moving onto exchanges.

Ultimately, the change is closer to meaning that Shiba Inu’s pace of leaving exchanges has slowed sharply from before. The report said investors have become less active in moving tokens into personal wallets, but there has also been no large inflow aimed at selling.

Price action remains weak. Shiba Inu traded at $0.00000443, down about 1 percent on the day. It is below the $0.00000448 to $0.00000456 range where short-term moving averages sit, and $0.00000489 was cited as an additional resistance level. The long-term moving average is $0.00000576, well above the current price.

Technical indicators also did not show a clear rebound signal. The relative strength index (RSI) is around 44 and has not entered oversold territory. That leaves the near-term focus on whether it can regain the $0.0000045 to $0.0000046 range. A move above $0.0000049 could be interpreted as a more meaningful recovery signal.

If it fails to break above key resistance, it may again test the $0.0000041 to $0.0000042 support range. For now, the sharp drop in exchange outflows has weakened the bullish factor of shrinking supply, but it is also difficult to conclude that selling pressure has decisively increased given that inflows and exchange holdings have fallen at the same time.

The indicator shift places more weight on a slowdown in trading itself than on an expansion in Shiba Inu selling. With exchange inflows and outflows both down and holdings not rising sharply, it showed that liquidity weakening and price stagnation should be considered alongside supply changes.