Shiba Inu Hits 1.58 Million Holders as Adoption Grows

This reflects sustained interest in the leading meme token as the price begins to show signs of a potential breakout.

Furthermore, the data provided also showed that active addresses surged by 12% to about 3,800, while the average holding period held firm at 2.4 years. This reveals that investors are holding on to the asset for the longer term, rather than making short-term bids.

SHIB whales activate

Amid the rising on-chain activity seen in the past three days, SHIB large holders have also remained active over the period, signaling renewed interest among the SHIB whales.

The team revealed that large transactions involving wallets carrying at least $100,000 worth of tokens have increased by about 6-7% over the period.

This suggests that high-profile investors and institutions are actively participating in the Shiba Inu ecosystem as adoption continues to grow.