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Dog-themed cryptocurrency Shiba Inu is celebrating a historic milestone. Total Addresses, which refers to all addresses that have ever been generated and held SHIB, including those that still do, has achieved a new high.
According to IntoTheBlock data, the total number of SHIB addresses has reached 3.6 million. Despite falling prices, Shiba Inu is maintaining its total number of addresses with a balance that has recently reached new highs of 1.25 million.
While the total number of addresses with a balance does not exactly correspond to the number of holders, it provides a useful approximation of the number of individuals who have a specific crypto asset.
On shorter time frames, the total number of addresses with a balance can indicate trader positioning and may be a leading signal of price activity.
In the long run, the total number of addresses with a balance reflects the interest in holding a specific crypto asset. A rise in the number of addresses with a balance is generally considered beneficial because it indicates a more robust and growing user base.
SHIB was down 0.05% in the last 24 hours to $0.00000724 at the time of writing.
Shibarium smashes new milestones
Shiba Inu Layer-2 platform Shibarium continues to expand. The accounts growth indicator, which relates to the cumulative number of accounts per period, has reached a new high of 26,112.
The cumulative number of contracts for the period and that of verified contracts stood at 10,448 and 474, respectively, marking new highs for the Layer-2 platform. Shibarium now has a total of 7,635 tokens.
Other measures, like wallet addresses and total blocks, are also increasing, presently standing at 1,250,780 and 834,115, respectively. The total number of transactions on the Shibarium network is now 3,161,171.