Shiba Inu wallets now reach new heights with about 100,000 new holders having joined in 2024 and represents a significant milestone.
In a remarkable development for the Shiba Inu (SHIB) ecosystem, the number of wallets holding a balance has surged to an all-time high, with approximately 100,000 new holders joining in 2024 alone.
This impressive growth reflects both increased participation within the community and a notable price performance throughout the year.
Record Numbers of Shiba Inu Wallets
According to data from blockchain analytics provider IntoTheBlock, as of January 7, 2024, the number of Shiba Inu wallets containing a balance has reached 1.38 million.
This represents a significant milestone, as it exceeds the previous year’s figure of less than 1.3 million.
Understanding Wallet Balances
For those unfamiliar with cryptocurrency terminology, “wallets with balance” refers to addresses that actively hold SHIB tokens.
This metric is crucial for gauging the health and growth of the ecosystem, as it indicates active participation from the community.
In contrast, simply counting “total addresses” can be misleading, since this number may include inactive wallets that do not hold any tokens.
As it stands, the total number of Shiba Inu addresses has climbed to 4.54 million.
However, this figure includes approximately 3.16 million addresses that are devoid of any balance.
The increase in active wallets is a more telling indicator of the ecosystem’s expansion.
Steady Growth Since Launch
IntoTheBlock’s data reveals that at the beginning of 2024, there were 1.28 million wallets with a balance.
The addition of around 100,000 new wallets throughout the year reflects a consistent growth trend that has been evident since the token’s inception in August 2020.
Notably, just a year after its launch, the number of wallets with balance was still under 1 million, standing at 630,000 in August 2021.
The current figure of 1.38 million signifies that Shiba Inu has added a remarkable 750,000 wallets with balance in less than four years.
This growth trend is further evidenced by the notable increase in new Shiba Inu addresses in the fourth quarter of 2024.
Daily Address Growth in 2024
In 2024, Shiba Inu experienced an average addition of 1,500 new addresses per day.
However, this rate saw a dramatic spike, peaking at 21,290 new addresses on March 5, 2024, coinciding with a price surge to $0.000045.
After this peak, the daily growth rate stabilized at around 1,500 until the fourth quarter.
During the last quarter of the year, as Shiba Inu’s price began to rise significantly, the average number of new addresses jumped to 3,500 daily.
This increase significantly contributed to the overall growth in wallet numbers by the end of 2024.
Impressive Price Performance
In addition to the surge in wallet numbers, Shiba Inu also witnessed a substantial increase in its market price.
Starting the year at $0.000010, SHIB closed 2024 at $0.00002114, despite facing some turbulence in December.
This price movement translates to a remarkable 104% increase over the year, marking it as the second most bullish year since the token’s launch.
The Shiba Inu ecosystem has demonstrated robust growth in both wallet balances and price performance throughout 2024.
With 1.38 million wallets holding SHIB tokens and a significant increase in daily new addresses, the future looks promising for this vibrant community.
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Also Read: Shiba Inu Sees A Surge In Popularity Now Welcoming 7,548 New Wallets
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