Shiba Inu wallets with balance have reached a new all-time high after the ecosystem welcomed about 100,000 holders in 2024 alone.
This is according to data from blockchain analytics resource IntoTheBlock. Notably, the rapid growth occurred amid a notable price performance throughout 2024, which saw SHIB go from $0.00001 to battling the $0.00003 level.
Shiba Inu Wallets with Balance Hit New ATH
Specifically, IntoTheBlock data indicates that Shiba Inu wallets holding a balance have increased to 1.38 million as of Jan. 7. This figure marks an all-time high for this tier of addresses, which stood below the 1.3 million mark just a year ago.
For the uninitiated, addresses with balance refer to wallets that hold SHIB tokens within them, as opposed to those with no tokens at all. This metric is a better approach to gauge ecosystem growth, as it shows active participation.
In contrast, “total addresses” can be inflated by unused or inactive wallets, providing a less accurate measure of growth. To put things into perspective, total Shiba Inu addresses have increased to 4.54 million, factoring in 3.16 million addresses with zero balance. This number also represents an all-time high.
Meanwhile, further data from IntoTheBlock shows that the number of addresses with balance stood at 1.28 million at the start of 2024, indicating that the Shiba Inu ecosystem added about 100,000 of these wallets in 2024 alone, leading to the 1.38 million figure.
This builds on a consistent growth trend evident since the launch of the token in August 2020. Interestingly, the number of wallets with balance was still under 1 million a year after Shiba Inu’s launch, amounting to 630,000 as of August 2021.
Shiba Inu Daily Address Growth in 2024
The current figure of 1.38 million indicates that Shiba Inu has added 750,000 addresses with balance in less than four years. Notably, the latest spike in growth rate is reflected in a surge in new Shiba Inu addresses in Q4 2024.
On average, Shiba Inu welcomed an average of 1,500 addresses daily in 2024. However, this rate spiked to a peak of 21,290 addresses on March 5, 2024, coinciding with Shiba Inu’s price run to $0.000045. After this spike, the daily rate stabilized back to the 1,500 average until the fourth quarter of the year.
During this period, Shiba Inu embarked on an impressive price run, catalyzing an equal spike in new addresses. Throughout Q4 2024, daily new addresses averaged 3,500, contributing to the increase in total wallets by the end of the year.
Besides the new milestone in wallets with balance, Shiba Inu also observed an impressive growth in price. Having begun 2024 at $0.000010, Shiba Inu closed the year with a price of $0.00002114 despite turbulence in December. This marked a 104% increase in 2024, representing its second most bullish year since launch.
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