Data from IntoTheBlock analytics shows that Shiba Inu network growth is bullish, indicating that more holders have maintained their holdings despite a volatile market.
The meme-token continues to see an influx of new users after marking the one million mark towards the end of November. WhaleStats records show that the current Shiba Inu holders have peaked at 1,080,058.
The top 1,000 Ethereum wallets tracked have 52,507,978,883,328 SHIB tokens equivalent to $1,747,397,709.
Network growth metric looks at the number of Shiba Inu addresses that have maintained their investment in less than 30 days.
The growing number of users is not expected to affect the token’s price directly but signals positive network traction. SHIB has been up 6.12% in the past 24 hours, trading at $0.00003451.
The growth comes as the network increases the use cases of the meme token. The project launched a decentralized exchange at the start of the year and is looking to step into the metaverse.