Crypto analytics firm Glassnode reported on January 6 that Shiba Inu (SHIB) has recently reached an important milestone by surpassing a total of 3.74 million addresses. The continuous increase in the number of new addresses is clearly visible with the creation of 1,373 new addresses.
SHIB Address Numbers
As of January 5, based on CoinMarketCap data, a more detailed analysis of the Shiba Inu ecosystem could reveal that out of the total addresses, 1.23 million hold tokens valued between 0 and 1,000 dollars. Additionally, 92.4 thousand addresses hold tokens valued between 1,000 and 100,000 dollars, while 1.99 thousand addresses hold tokens valued at over 100,000 dollars. Despite the increasing number of addresses, Shiba Inu’s price may face difficulties in gaining momentum. Current data from CoinMarketCap shows that the SHIB price is at the level of 0.000009469 dollars, which could reflect a decrease of 1.56% in the last 24 hours and 10.24% over the past week.
The uncertain situation of Shiba Inu, with the disparity between the increasing number of addresses and weak price performance, may raise questions about the current market status of Shiba Inu. Investors are closely monitoring the cryptocurrency’s price movements, especially considering recent concerns about its stability and growth potential.
Shiba Inu Price Prediction
It has been observed that Shiba Inu has experienced various price increases that indicate a growing position in the market. However, these increases were consistently followed by rapid declines in the Shiba Inu price chart, eroding gains and creating uncertainty about the overall stability of the token. According to experts, Shiba Inu’s volatile and uncertain price movements depict a scenario marked by volatility. The token has consistently faced challenges in maintaining an upward trend, experiencing sharp pullbacks, and falling below the $0.00001 threshold with each rise.
While the cryptocurrency market continues to remain dynamic and is influenced by various factors, including market sentiment and external events, the Shiba Inu community eagerly awaits further developments that could potentially affect the direction of the token. Market participants are likely looking for signs of a sustained upward trend or solutions to the current challenges faced by Shiba Inu.
