Distinctive Shiba Inu Addresses Cross 1.21 Million

Shiba Inu, one of the most valuable digital currencies in the world, now boasts over 1.214 million unique addresses on its network. This significant milestone, reported by Coinmarketcap, reflects a surge of more than 14,000 addresses in the last four weeks.

During the crypto rally of 2021, Shiba Inu emerged as one of the top 10 cryptocurrency assets globally. However, it experienced a notable market cap reduction during the crypto correction in November 2021.

As of now, Shiba Inu’s market cap is approximately $6.7 billion, ranking it as the second-most valuable meme coin after Dogecoin (DOGE) and the 14th most valuable digital currency, just behind DAI and Polygon (MATIC). Dogecoin is currently at the 10th position with a market cap exceeding $8.1 billion. Despite volatile market conditions, the total number of DOGE and SHIB holders has been on the rise.

Coinmarketcap data indicates that the total number of unique Shiba Inu addresses has increased by almost 40,000 in the past three months. The network’s active addresses in the last 24 hours totaled 14,645. The top 10 SHIB holders command over 63% of the total supply, with the top 50 holders owning more than 78.5%.

Recently, SHIB’s value dipped by about 2% over the last week but saw a slight 3% increase in the past four weeks.

This article, authored by Bilal Jafar, was originally published on www.financemagnates.com.