The post Shiba Inu Wallets Reach New High of 1.38M—What Next for SHIB? appeared on BitcoinEthereumNews.com.

Shiba Inu wallets holding balances are reported to have surged to 1.38 million, adding 100,000 wallets in 2024. A renowned analyst has predicted that the asset could surge by 264% to hit $0.000081 in the near-term.  Shiba Inu (SHIB) records growing engagement and adoption as 100,000 new holders entered the ecosystem in 2024. According to IntoTheBlock data, this impressive milestone aligns with the overall performance of the SHIB price which surged from $0.00001 to $0.00003 within the period. Analysis on the Shiba Inu Wallet Addresses Subjecting the data to critical scrutiny, CNF uncovered that the Shiba Inu wallets holding a balance had a massive increase to 1.38 million as of yesterday, January 8. Interestingly, this appears to be an all-time high mark. A year ago, the balance stood below 1.3 million SHIB. Explaining why this indicator is perfect for assessing the growth of an ecosystem, analysts pointed out that other alternatives, such as “total addresses,” could be inflated. Data indicates that the total number of SHIB addresses surged to an all-time high of 4.54 million. Meanwhile, 3.16 million addresses have zero balances. As of the beginning of 2024, addresses with balance stood at 1.28 million. This implies that a whopping number of 100,000 wallets with balance were generated in 2024 alone with 750,000 added in less than four years. Looking at the historical trend, we observed an interesting growth as the total wallets with balance were only 630,000 as of August 2021. Source: IntoTheBlock Analyzing the breakdown, we discovered that an average number of 1,500 addresses were recorded daily in 2024. Fascinatingly, March 5 marks the peak as it recorded 21,290 addresses to coincide with the massive rise of SHIB price to $0.00004. SHIB began 2024 with a price of $0.000010 and finished the year at $0.00002114, representing a 104%…

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Filed under: News - @ January 9, 2025 4:16 am