Shiba Inu (SHIB) – one of the most popular memecoins on the market – is making headlines after seeing a surge in new wallets. According to data from blockchain analytics platform Santiment, 7,548 new SHIB wallets were created on Sunday alone, marking a staggering 214.5% growth over the daily average.
Signs of Strong Growth
The sudden increase in the number of new wallets is not a normal phenomenon for Shiba Inu. Previously, the growth rate of wallets on the SHIB network remained stable. However, the remarkable increase this past Sunday has shown a positive signal, indicating strong participation from the community and new investors.
Historical data shows that in January 2023, despite market volatility, Shiba Inu maintained a stable growth rate in the number of wallets. For example, on January 13, 2022, the unique wallets of SHIB reached a record high of 1,136,080, with 72,222 new wallets added in less than a month.
Interest is Booming
Having more than 7,500 new wallets in a single day not only far exceeds previous phases but also confirms strong interest in the Shiba Inu ecosystem. Santiment noted that:
The growth of the network like this indicates strong and enthusiastic interaction from the community. Although there may be significant volatility in the short term as retail investors flood into the ecosystem, in the long run, high activity levels on the blockchain are always a positive signal.
Is SHIB Ready for a New Price Surge?
Along with the increase in new wallets, the price of SHIB is on the verge of entering a new growth cycle. As more and more people participate in the ecosystem, the demand for the $SHIB token will increase, opening up the possibility for a strong price surge in the next growth season.
Additionally, supporting factors such as the development of Shibarium – SHIB's layer-2 solution – and continuous improvements in the ecosystem have reinforced investors' confidence. In particular, this growth event occurs amid a gradually recovering crypto market, further increasing expectations for Shiba Inu's potential.
Conclusion
The explosion in the number of new wallets is a positive sign, indicating that Shiba Inu still retains strong appeal among the investment community. However, as always, caution remains an important factor when participating in the market, especially with highly speculative coins like SHIB.
Could this be the beginning of a new "bull run" for Shiba Inu? Only time can tell, but with the current positive developments, SHIB is facing a great opportunity to break out in the near future.
