The number of addresses for the Shiba Inu cryptocurrency has reached a new all-time high, marking an incredible milestone. IntoTheBlock reports that the coin has gathered an incredible 3.51 million addresses since its introduction three years ago.
Within the last month, there has been a notable increase in activity. The momentum peaked in July with an astounding weekly growth in new SHIB addresses of 115%, demonstrating an unparalleled degree of enthusiasm and expectation among investors. The number is still growing, having increased by 22% during the previous seven days.
Significantly, the burgeoning activity at the moment goes beyond only the quantity of new addresses. Moreover, the number of nonempty wallets has peaked at 1.24 million addresses, meaning that SHIB coins are now balances in these wallets. This astounding amount represents 35.3% of all Shiba Inu token owners, showing that a sizeable section of the community is using the cryptocurrency on a regular basis.
Summer of Shibarium
Shibarium, Shiba Inu’s much awaited Layer 2 protocol, is the reason for the upsurge in activity and flood of new SHIB holders. The protocol, which is scheduled for deployment this summer, promises to revolutionise and improve the Shiba Inu ecosystem in new ways. The excitement around Shibarium is growing dramatically as August approaches.
With the introduction of Shibarium, it is anticipated that some of the scaling issues encountered by the Shiba Inu token will be resolved, creating new prospects for both users and developers. For owners of SHIBs, the Layer 2 protocol is regarded as a major step towards building a more reliable and effective blockchain environment.
