Shiba Inu, 20,000 Wallets Surge in a Week..."Whales and Individuals Rushed In Simultaneously"

▲ Shiba Inu (SHIB)/ChatGPT generated image

The number of Shiba Inu (SHIB) holders has surpassed 1.58 million, demonstrating its unrivaled presence in the virtual asset market. In the past week alone, more than 22,000 new wallets were created. It appears that market interest is once again shifting towards meme coins.

Cryptocurrency specialized media U.Today, citing data from on-chain data analysis platform Etherscan as of April 25, announced that the number of Shiba Inu holders has reached approximately 1.585 million. In particular, over 10,000 new wallets were added between April 19 and 22 alone. This suggests an expansion of the ecosystem's overall base, beyond just a short-term surge. It can also be interpreted as a signal of individual investors returning.

Shibarium, the Layer 2 network of the Shiba Inu ecosystem, has also achieved monumental success. Its cumulative transaction volume has exceeded 1 billion, proving the network's stability and scalability. The active movement within the ecosystem is a key driving force supporting Shiba Inu's value. The proportion of assets moving out of exchanges and into staking is also steadily increasing.

Token burning to control supply is also actively underway. On April 24 alone, over 23.62 million SHIB were permanently burned. The burn rate surged by 700% compared to the previous day. A decrease in circulating supply is highly likely to act as long-term upward price pressure. On the other hand, 184 billion SHIB flowing into exchanges is considered a short-term volatility factor.

Shiba Inu is evaluated as having successfully improved its fundamental structure by building its own ecosystem beyond being a mere meme coin. Large investors, or "whales," continue to hold a high proportion, leading the market. The increased participation of individual investors, coupled with institutional interest, is ushering in a new phase of growth.

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