Shiba Inu's Exchange Metrics Show Weakening Accumulation Signals

The price of Shiba Inu (SHIB) has been showing stability in its chart, but one of its exchange metrics suggests a potentially unfavorable development for bulls. The seven-day moving average of mean exchange outflows decreased by 75.55% to around 261.7 million SHIB. This indicates that the significant weakening of accumulation sources is likely occurring.

Despite this decrease in outflows, total exchange inflows increased by 1.48% to about 398.35 billion SHIB, while the seven-day moving average of mean inflows increased by 24.13% to 595.68 million SHIB. This shift from withdrawals to deposits suggests that holders may be accumulating more tokens on exchanges.

SHIB's exchange reserve grew by 0.29%, reaching approximately 87.21 trillion tokens, indicating that there is a greater amount of tokens available for sale in the short term. However, the overall exchange netflow decreased by 10.29%, suggesting that this data does not indicate a complete capitulation event.

The technical structure of SHIB's price shows that it has been absorbing pressure well, with its rising trendline from August lows still intact. The next significant barrier is located at $0.00000569, corresponding to the 200-day moving average. If SHIB surpasses this threshold, its overall technical structure would be significantly improved.