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Shiba Inu (SHIB) Hits Major Milestone of 4 Million Total Addresses

Wed, 10/04/2024 – 9:54

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Dog-themed cryptocurrency Shiba Inu (SHIB) has achieved a remarkable feat, with its total addresses hitting the four million mark, per IntoTheBlock data.

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This milestone underscores growing adoption and interest in SHIB, marking a pivotal moment on its journey within the cryptocurrency market.

“Total addresses” in this context refer to all addresses ever created that, at one point, have held SHIB, including those that still do. To put it simply, total addresses are those that used to hold SHIB but no longer do, as well as those that do.

IntoTheBlock
Shiba Inu (SHIB) Total Addresses, Courtesy: IntoTheBlock

In this regard, the total number of SHIB addresses with a balance has risen to 1.3 million. An increase in the number of addresses with a balance is typically a good indicator, indicating a more robust and growing user base.

Looking ahead, the achievement of four million total addresses might set the stage for continued growth and innovation within the Shiba Inu ecosystem.

As the community expands and new use cases emerge, Shiba Inu appears to be well-positioned to capitalize on opportunities for increased adoption and integration into the broader digital economy.

Shiba Inu price action

Cryptocurrencies fell late Tuesday after optimism dropped following Monday’s rally. Bitcoin’s drop reverberated through the crypto markets, with several cryptocurrencies reporting losses at press time.

Shiba Inu was down 3.13% in the last 24 hours to $0.00002783, having hit intraday lows of $0.00002684.

On the upside, Shiba Inu seems to be building resistance near $0.00002953 as the price failed to surpass this level on two occasions, April 8 and 9.

A confirmed break of the said level could trigger further upside for SHIB’s price, possibly reaching $0.00003285. On the other hand, if SHIB falls below its current range, it might find support between $0.000025 and $0.000026, where 17,960 addresses bought 2.87 trillion SHIB.

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