The number of investors on the Shiba Inu blockchain has surged in recent days, drawing industry attention. The number of Ethereum-based SHIB wallets climbed sharply between April 19 and 22, with more than 10,000 newly registered wallets in this period. The total number of SHIB addresses has now exceeded 1.573 million, marking one of the fastest short-term growth spurts of the year. According to Etherscan data, new investors have recently been joining the ecosystem at a brisk pace, particularly over the short term.
Network activity accelerates as price and technicals align
On April 21 alone, 4,958 new wallets were added to the network, and the surge neared a total of 5,653 wallets in the past week. Considering that SHIB holders had only just surpassed 1.55 million at the end of March, this recent influx highlights significant renewed energy within the network.
This spike in address numbers paralleled a notable movement in SHIB’s price action. During the week ending April 22, SHIB’s value climbed over 7 percent. The token broke out of a long-standing descending triangle pattern on the daily chart, triggering an anticipated rally. Increases in individual wallet numbers are often observed following such technical breakouts.
On-chain data show approximately 505 billion SHIB were withdrawn from centralized exchanges, indicating investors are moving their assets to personal wallets. This shift toward decentralized storage could in turn reduce the amount of SHIB readily available on the market over time.
Analysts indicate that large-scale withdrawals from centralized exchanges are a signal of increasing long-term confidence in SHIB and a growing willingness among investors to hold the asset.
The number of users holding SHIB over the long term has also steadily risen. Over the past year, this group has grown by approximately 78 percent. Such consistent growth is seen as evidence that conviction among the SHIB community is strengthening.
Shibarium crosses key milestones as ecosystem expands
Transaction volumes on Shiba Inu’s Layer 2 network, Shibarium, have added another dimension to the project’s momentum. After months of anticipation, the total number of transactions on the network has surpassed 1 billion. Each transaction on Shibarium contributes to ongoing token burning mechanisms tied to network usage.
According to CryptoAppsy, SHIB is currently trading near $0.000006137, reflecting a modest daily gain of 0.47 percent. Its market capitalization stands at $3.62 billion, while 24-hour trading volume has dipped to around $91 million, a 13.5 percent decrease compared to the previous day. On a weekly chart, the price has experienced a mild retracement of 0.3 percent from its recent peak of $0.0000064.
Within the project’s roadmap, migration to the next phase of the LEASH v2 initiative is progressing gradually, pending ongoing security audits. Developers have indicated future plans to expand into Layer 3 solutions and to introduce new AI-powered tools. In light of these developments, investors are closely monitoring both Etherscan address statistics and transaction trends on Shibarium. The main question now is whether SHIB can maintain its momentum above the newly achieved technical thresholds.
