Main navigation

SHIB Sets Record-Breaking All-Time High as Shiba Inu Community Can't Wait for Shibarium

Wed, 08/02/2023 - 13:49
article image
Gamza Khanzadaev
Shiba Inu hits new all-time high as SHIB army anticipates summer of Shibarium
SHIB Sets Record-Breaking All-Time High as Shiba Inu Community Can't Wait for Shibarium
Cover image via
Read U.TODAY on
Google News

The Shiba Inu token has achieved an extraordinary milestone, setting a new all-time high in the number of addresses. Since its launch three years ago, the token has amassed a colossal 3.51 million addresses, according to IntoTheBlock.

Shiba Inu (SHIB) Looks Stronger Than You Think

A significant surge in activity started in the past month. The momentum reached a pinnacle in July, witnessing a staggering 115% weekly increase in new SHIB addresses, showcasing an unprecedented level of excitement and anticipation among investors. The figure is still rising with a 22% gain in the last seven days.

Source: IntoTheBlock

Notably, the current booming activity extends beyond merely the number of new addresses. The amount of nonempty wallets has also reached its absolute maximum, with a staggering 1.24 million addresses now holding SHIB tokens in their balance. This remarkable figure accounts for 35.3% of all Shiba Inu token holders, indicating that a considerable portion of the community is actively engaged in the cryptocurrency.

Summer of Shibarium

The surge in activity and influx of new SHIB holders can be attributed to the hype surrounding Shibarium, Shiba Inu's highly anticipated Layer 2 protocol. Set to be released this summer, the protocol promises to bring exciting advancements and enhancements to the Shiba Inu ecosystem. As August dawns, the hype surrounding Shibarium continues to escalate exponentially.

Shytoshi Kusama Reveals Crucial Partner in SHIB’s Next Phase

Shibarium's release is expected to address some of the scalability challenges faced by the Shiba Inu token, opening up new opportunities for developers and users alike. The introduction of the Layer 2 protocol is seen as a significant step toward creating a more robust and efficient blockchain ecosystem for SHIB holders.

article image
About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.