Shiba Inu, the popular meme-inspired cryptocurrency, has shown fundamental growth, with the total number of addresses reaching 1.23 million on the network. This is a significant milestone for the project, as it shows that despite recent price declines and competition from other meme coins, the network is still growing.
Shiba Inu has been struggling to maintain its position among its counterparts, such as Floki and Bone, which have been gaining popularity and market share in recent weeks. However, the fact that the number of addresses on the Shiba Inu network continues to increase is a positive sign for the project's long-term prospects.
Despite the recent price performance, which has seen the coin decline in value, the average volume for Shiba Inu has remained steady, with around $73 million in trading volume over the last seven days. The current price of Shiba Inu is around $0.0000123, which is lower than its all-time high of $0.0000388, but still relatively high compared to its price earlier this year.
Shiba Inu has been subject to a lot of volatility since its inception, with large price swings occurring frequently. However, the fundamental growth of the project suggests that there is still significant interest in the network, which could lead to a rebound in prices in the future.
The increase in the number of addresses on the Shiba Inu network is an important metric to watch, as it indicates that more users are joining the network and using the cryptocurrency. This is a positive sign for the project, as it suggests that there is still significant interest in the Shiba Inu ecosystem.