Over 7,500 new Shiba Inu wallets were created on Sunday, further fueling the hype for the popular cryptocurrency. This development represents a massive 214 percent increase in SHIB’s average daily growth rate. This extraordinary surge shows that interest in the SHIB ecosystem is on the rise. With the growing interest in the ecosystem, the native coin could see sharp increases in the upcoming bull season.
This surge in new wallet creations was not a normal occurrence for #SHIB. Historically, the popular altcoin has enjoyed a stable daily growth rate. However, Sunday’s activity showed a significant increase in a single day and demonstrated that there are new participants in the ecosystem.
This increase not only mirrored the growth seen in previous years, but also exceeded it. In January 2023, despite market volatility, SHIB wallets continued to grow at a healthy rate. According to CoinMarketCap data, on January 13, 2022, the number of unique SHIB addresses reached a record high of 1,136,080. This number represented the addition of 72,222 new wallets, up from 1,063,858 on December 15, 2021, representing an average of 2,407 new wallets per day.
According to data from crypto analytics platform Santiment, 7,548 SHIB wallets were created on Sunday alone. This number represents a 214.5% increase compared to the number of addresses added daily on the#ShibaInunetwork.
“This growth in the network indicates strong audience engagement and enthusiasm,” Santiment said. “In the short term, there may be increased volatility as retail investors flock to the ecosystem. However, an increased level of activity on any blockchain is a promising sign for the long term.” The recent surge in Shiba Inu network activity reflects a shift in the development and adoption of the project.
