Shiba Inu is seeing growing adoption amid the broad crypto market resurgence, which has seen its price stabilize above the $0.000006 mark.
On Saturday, April 25, the Shiba Inu team shared data revealing that SHIB's total holder count climbed to about 1.58 million between April 18 and April 25.
Shiba Inu sees growing adoption
The surge in the SHIB holder count shows that an additional 10,000 new wallets were added to the ecosystem within just 3 days, signaling growing demand among both retail and institutional investors.
Notably, the team specifically revealed that the increases recorded in a single day saw nearly 5,000 new addresses added within just 24 hours.
This reflects sustained interest in the leading meme token as the price begins to show signs of a potential breakout.
Furthermore, the data provided also showed that active addresses surged by 12% to about 3,800, while the average holding period held firm at 2.4 years. This reveals that investors are holding on to the asset for the longer term, rather than making short-term bids.
SHIB whales activate
Amid the rising on-chain activity seen in the past three days, SHIB large holders have also remained active over the period, signaling renewed interest among the SHIB whales.
The team revealed that large transactions involving wallets carrying at least $100,000 worth of tokens have increased by about 6-7% over the period.
This suggests that high-profile investors and institutions are actively participating in the Shiba Inu ecosystem as adoption continues to grow.
Dan Burgin
U.Today Editorial Team
