Amidst market swings, Shiba Inu records peak address growth

• Shiba Inu cryptocurrency reaches a record 3.6 million addresses despite price declines.
• Shibarium, Shiba Inu’s secondary platform, records a peak of 26,112 accounts.
• Shibarium network records over 3.1 million total transactions, indicating robust activity.

Inspired by the dog breed, the Shiba Inu cryptocurrency has achieved a significant landmark. The total count of Shiba Inu addresses has recently escalated to a record-breaking 3.6 million. This increase has occurred even amidst recent price declines, demonstrating the enduring attractiveness of this dog-themed digital asset.

Data from IntoTheBlock reveals that Shiba Inu has not only sustained its user base but also experienced an increase in the number of addresses holding a balance. A remarkable 1.25 million addresses hold a balance in Shiba Inu, highlighting the sustained interest in this cryptocurrency.

The number of Shiba Inu addresses plays a substantial role

In a condensed period, the aggregate count of addresses with a balance can be a vital gauge of trader positioning, frequently functioning as a precursor to price variations. In the long run, this measurement signifies the enduring interest in possessing a specific cryptocurrency. An increase in the count of addresses with a balance is typically perceived as a favorable indication, denoting a strong and growing user base.

At the time of writing, Shiba Inu’s price stands at $0.00000724, demonstrating its stability in the face of recent market volatility. The token has experienced a negligible decline of 0.05% in the past 24 hours.

Shiba Inu’s secondary platform, Shibarium, which operates on Layer-2, is making considerable progress beyond its primary cryptocurrency. The growth indicator for Shibarium’s accounts, which reflects the total number of accounts over a specific period, has hit a record peak of 26,112. This significant growth indicates a growing user base and heightened interest in the platform.

Furthermore, Shibarium is setting new highs with 10,448 contracts for the period and 474 verified contracts. These statistics highlight the increasing utilization and acceptance of the platform by both developers and users.

The platform metrics show a positive trend, with the count of wallet addresses hitting 1,250,780 and the total blocks escalating to 834,115. Importantly, the Shibarium network has recorded a significant 3,161,171 total transactions, reinforcing its status as a robust and active Layer-2 solution.