Shiba Inu recorded a burn of 1.2 billion tokens in 24 hours, bringing netflow to exchanges to 62.15 billion SHIB. Despite this activity, the movement remains insignificant given the total supply of nearly 999.98 trillion tokens and reserves held on platforms, estimated at 87.33 trillion SHIB. Network activity shows marginal improvement with a 1% rise in active sending addresses and a 1.1% increase in total transactions. SHIB is currently trading around $0.00000450, well below its 200-day moving average at approximately $0.00000581, with an RSI at 46 indicating neutral-bearish momentum. According to the analysis, this activity will not be sufficient to sustain a lasting recovery without consistent spot demand.
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