Shiba Inu saw a rapid increase in millionaires in April 2025 amid an impressive recovery push that saw its price surge 7%.
The broader crypto market saw a massive uptrend in April, buoyed by Bitcoin’s (BTC) recovery toward the $95,000 mark. For context, the global crypto market cap grew 10.31% in April, adding $270 billion. While Shiba Inu saw lower growth, it still maintained positive momentum.
Specifically, SHIB rose 7% in April, conquering the $0.000012 mark to recover $0.000013. However, IntoTheBlock data shows a more impressive development that occurred in April during this rebound push.
Shiba Inu Added 109 Millionaire Addresses in April 2025
According to on-chain data, Shiba Inu saw the addition of multiple millionaires last month. For context, these millionaires are investors who hold at least $1 million in SHIB.
Notably, at the start of April, these addresses amounted to 751. Of this figure, 689 addresses held Shiba Inu worth $1 million to $10 million. Meanwhile, the remaining 62 addresses had balances greater than $10 million in Shiba Inu.
The latest data confirms that this figure increased considerably by the end of the month. Notably, on April 30, there were 860 addresses with $1 million and more in Shiba Inu. This confirms that the Shiba Inu ecosystem added 109 millionaires in April alone.
Specifically, of the latest figure, 796 addresses hold between $1 million and $10 million, marking an increase of 107 addresses in April. Meanwhile, those holding balances greater than $10 million increased by just 2 within the same period, now totaling 64.
Factors to Consider
This growth in millionaire addresses is attributable to two factors. First, it could be a result of the rise in Shiba Inu price, which pushed the worth of some investors’ holdings toward the $1 million mark.
For instance, at the current price of $0.00001355, an investor holding 73.8 billion SHIB holds a balance of $1 million. However, at the start of April 2025, when Shiba Inu changed hands at $0.00001237, these 73.8 billion SHIB tokens were worth $912,915, placing them outside the much-coveted tier.
The second factor that could have contributed to this increase in millionaire addresses is an actual accumulation campaign triggered by the rebound push in April.
Notably, data from IntoTheBlock also confirms that addresses holding between 10 billion and 100 trillion SHIB added 210 billion tokens in April, now holding 541.28 trillion Shiba Inu. While this is low, it marks a shift in the distribution trend observed in previous months.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
