Shiba Inu, 24,000 New Wallets Opened in April...Will it Revive in the Second Half?

▲ Shiba Inu (SHIB)

The Shiba Inu (SHIB) ecosystem recorded explosive growth last April, adding 24,000 new wallets in just one month. Furthermore, whale investors are firmly holding onto their holdings, raising expectations for long-term price appreciation.

U.Today, a cryptocurrency specialized media outlet, reported on May 4 (local time) that the total number of Shiba Inu wallet addresses has approached approximately 4 million, driven by network activation and ecosystem expansion. The continuous influx of new users is strengthening network activity, indicating that it is securing a real user base beyond a mere trend. The steady increase in new wallet numbers despite market volatility is evidence of the market's robust confidence in Shiba Inu.

The movements of large investors are also noteworthy. According to on-chain data, whales holding a significant portion of Shiba Inu's total supply have maintained their holdings without selling, even during recent price correction periods. This movement by whales suggests an analysis that they perceive the current price level as a bottom and are preparing for a larger rebound in the future. In a situation where asset concentration is high, the strong will of whales to hold acts as a powerful defense line against sharp price declines.

The Shiba Inu ecosystem's burning mechanism is also a key factor supporting asset value by controlling supply. The community-led burning of millions of SHIB daily, reducing the circulating supply, underpins long-term price appreciation. Due to the structural characteristic where the burning rate accelerates as network usage increases, the influx of new users and the growth in wallet numbers directly cause a supply shortage.

Shiba Inu's status in the global cryptocurrency market is being re-evaluated from a simple meme coin to an asset with independent technological capabilities. As various projects within the ecosystem bear fruit, its potential for use as a practical payment method is also growing. In a phase where institutional investors' interest is expanding from Bitcoin to altcoins, the prevailing assessment is that Shiba Inu, with its solid user base and whale support, has secured the next generation of growth momentum.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*