Shiba Inu's Record-Burning Not Enough to Boost Market Structure

According to recent data, Shiba Inu (SHIB) has seen over 1.2 billion tokens burned in just 24 hours. While this may seem significant, experts argue that it's not enough to boost the token's market structure.

The large circulating supply of SHIB is a major factor in this assessment. With approximately 999.98 trillion tokens in total supply and around 87.33 trillion on exchanges, transactions involving one or two billion tokens are relatively insignificant.

Additionally, other exchange metrics show that exchange reserves grew by only 0.07% over the past day, while mean exchange inflows increased by 4.16%. This indicates a potential increase in sell-side liquidity but doesn't necessarily point to buying demand.

The Shiba Inu network is experiencing marginal improvement, with a slight increase in active sending addresses and transactions. However, these growth rates are not sufficient to reverse the token's decline.