Shiba Inu Network Surpasses 3.74 Million Wallets
Date: 2024-01-08 Author: Dima Zakharov Categories: BLOCKCHAIN
Shiba Inu Network Hits 3.74 Million Wallets
The Shiba Inu (SHIB) cryptocurrency network has achieved a significant milestone, surpassing 3.74 million wallets as of January 6, according to Glassnode data. On that specific day, 1,373 new addresses were created, highlighting the growing interest in the meme-inspired token.
Wallet Analysis as of January 5
Examining the Shiba Inu ecosystem as of January 5, data reveals that out of the total number of addresses, 1.23 million contain tokens valued between $0 and $1,000. Furthermore, 92,400 addresses hold balances ranging from $1,000 to $100,000, while 1,990 addresses store tokens valued at $100,000 or more.
Despite the increasing number of addresses, Shiba Inu's price has faced some challenges. On the evening of January 7, the token experienced a 2.6% decrease in the past 24 hours and an 11.1% decline over the past week.
Growing Addresses vs. Price Challenges
The discrepancy between the growing number of addresses and modest price performance raises questions about Shiba Inu's current position in the market. Investors are beginning to express concerns about the meme coin's stability and its growth potential.
Shiba Inu has previously witnessed several price surges, but these gains were consistently followed by rapid declines, erasing profits and creating uncertainty about the token's future.
Awaiting Future Developments
The Shiba Inu community now eagerly anticipates upcoming events that could influence the token's trajectory and, of course, its price growth. As the crypto market continues to evolve, Shiba Inu's fate remains uncertain.
