Total Shiba Inu Addresses Touches New High, Will SHIB Price Follow?

Shiba Inu (SHIB) still commands a good amount of crypto investors' attention despite losing so much of its value over the last year. This is evidenced by the continuous rise in the number of addresses that are holding the meme coin.

Timeline of Shiba-inu

Shiba Inu (CRYPTO: SHIB) was seeing some high volatility during Tuesday's 24-hour trading session, showing comparative weakness to Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) to trade in tandem with Dogecoin (CRYTO: DOGE). On Tuesday morning, the U.S. Labor Department printed consumer price index data for the month of November that came in under expectations and showed inflation is slowing.

Shiba Inu rode on a bullish wave initiated on the general cryptocurrency market as it printed six green hourly candles at a stretch. The price run is more visible on the four-hour chart, where SHIB printed two massive green candles.

Shiba Inu has declined by more than 6% in the last week, and as a result, has lost its place in the market as the 14th largest coin to Tron (TRX). Meme Coin Shiba Inu Has Continued To Struggle In Recent Days More than one month following the FTX collapse, SHIB has continued its struggle as the meme coin has been unable to put together any bullish momentum.

The number of addresses now on the Shiba Inu (SHIB/USD) network has managed to reach a new peak and has over 3 million in total. Additionally, Shiba Inu (SHIB) has added over 600 new HODLers daily throughout the month, despite the ongoing bear market.

The meme-inspired cryptocurrency Shiba Inu ($SHIB) has been adding over 600 new holders per day so far this month, even amid an ongoing bear market in the cryptocurrency space that has now lasted for over a year.

Shiba Inu's metaverse platform is being built using the latest iteration of Unreal Engine, UE5.1.  The Shiba ecosystem has also welcomed multiple bullish announcements that could boost the price of SHIB.

The number of holders of Shiba Inu (CRYPTO: SHIB) has increased by 7,807 to a total of 1,251,237 since the start of December. What Happened: According to Etherscan data, in December, SHIB saw an average of 643 new holders added daily.

Shiba Inu's demand from whales saw an upside as the market anticipated the next move However, the demand was not enough to push a sizable upside Shiba Inu [SHIB] has been docile since the start of December, with barely any noteworthy developments.

Meme cryptocurrency Shiba Inu (SHIB) has traded sideways in recent weeks as the general market felt the effects of the FTX cryptocurrency exchange collapse. However, despite the inability to mount a significant rally, SHIB is attracting interest from investors, as exhibited by the number of holders.

On December 8th, two large transactions involving the cryptocurrency Shiba Inu (SHIB) were reported by WhaleAlert. The transactions totaled over $50 million, and the unknown parties involved have sparked speculation about their motivations and the potential impact on the future of SHIB.