May 23, 2024

In 33 months, the number of Shiba Inu (SHIB) addresses with zero balances has experienced a remarkable spike. November 2023, data from a crypto analytics platform, IntoTheBlock, revealed this information.

On February 1, 2021, only 8,460 addresses held non-zero SHIB balances. However, as of the current month, this number has skyrocketed to an impressive 1.26 million.

This substantial increase of 1,251,540 addresses since February 2021 indicates a growing interest and participation from investors in the Shiba Inu ecosystem. Notably, the surge in non-zero addresses can be attributed to two key factors.

Firstly, the introduction of Shibarium, a highly anticipated Layer-2 scaling solution for Shiba Inu, has been pivotal in driving the adoption of SHIB. More so, Shibarium has attracted prominent decentralized finance (DeFi) projects to launch on the protocol.

This allows users to purchase and stake their SHIB assets, enjoying the dividends it offers. Secondly, the active and vibrant Shiba Inu community has significantly contributed to SHIB’s popularity among investors.

The community consistently promotes SHIB as a preferred asset, especially in anticipation of the upcoming bull run.

The remarkable rally of Shiba Inu in the last bull market has caught the attention of many, prompting those who missed out on the previous opportunity to accumulate SHIB at its discounted price. Notably, the community’s widespread promotion has played a key role in driving this accumulation trend.

Beyond these factors, ongoing developmental efforts, the Shib (The Metaverse project), and the SHIBOSHI non-fungible token project have also played significant roles in the widespread adoption of the token.

These initiatives have helped Shiba Inu shed its memecoin image and position itself as a utility token with solid potential.

SHIB’s Market Performance Today

Despite the positive factors and noteworthy developments surrounding Shiba Inu, the token is currently recording a 4.45% decline in its price compared to November 21. As of the latest data, Shiba Inu is trading at $0.00000796.

However, it is important to highlight that this price decline has not impacted trading activity with the token. This is evident in its trading volume, which remains resilient, holding at over 45% of its previous day’s figure.

The total trading volume now stands impressively at over $209 million.

This robust trading activity indicates a sustained interest and engagement from the market, even in the face of a slight price downturn.

Shiba Inu’s ability to maintain significant trading activity despite short-term price fluctuations suggests a resilient and engaged community as the market dynamics evolve. 

Regarding its price forecast, there is a tendency for a bullish turn in its price. This possibility hinges on its cost bouncing off the 50-day moving average on the daily price chart.

Although the market still presents a bearish possibility, SHIB’s price continues to maintain levels above this support, which could trigger an uptrend over the next 48 hours.

Are TikTok Coin Generators Worth It?
Aprovechando al Máximo los Regalos de Monedas TikTok
Coin Master Free Spins Myths and Facts: Unraveled
Free Avacoins in Avakin Life: The Future of Virtual Reality
Free Credits in Bingo Blitz: Where to Find Them
Coin Master Spin Hack Safety: Best Practices
genshin impact 2 6 redeem codes free primogems try hard
Free ZEPETO Zems: Insider Secrets
TikTok Coin Farming Demystified
Die Auswirkungen von TikTok-Münzen auf Ihr Profil
Coin Master Free Spins Farming Techniques: Unveiled
Avakin Life Avacoins Generator Insights: Truth vs. Fiction
The Power of Credits in Bingo Blitz: Explained
Coin Master Spins Farming Strategies: Success Tips
genshin impact offers free primogems with two new promo codes
ZEPETO Zems Hack for Content Creators
match masters free coins archives crazyashwin
Unlocking TikTok Coins: Insider Techniques
The Future of Gems in Brawl Stars: Trends and Predictions
dragon city hack cheats generator for free gems 2023
100 rubies for installing my cafe game family island help center
free hay day diamonds coins tricks apk pour android télécharger
litmatch mod apk 3 9 0 0 unlimited diamond free cheat games
myths of moonrise codes january 2023 techfornerd
kahoot generator bots understudies can as of now send crawlers to
download evony mod apk unlimited money and gems 2022
retirement survival kit funny isabel gebien
project makeover apk 2 56 1 download for android techbigs
beach buggy racing mod apk v2022 12 17 unlimited apkloo
Free TikTok Coins Today: Quick Tips

Leave a Reply

Your email address will not be published. Required fields are marked *