In the last month Shiba Inu cryptocurrency network has experienced the largest surge of active addresses since the beginning of the year. As the renowned analyst Ali Martinez highlighted the data from Santiment portal, the daily transaction count of SHIB addresses hit its highest mark at 36,000 by the end of March. This increase in transaction activity occurred right before the SHIB price breakout after a period of lull in volatility.
Analysing the transactions of SHIB, it was observed that most transactions occurred in the price range of $10-$100. Moreover, 578 transactions worth between 10,000 and 100,000 were made. Additionally, nearly fifty one transactions from a hundred to a million and one reaching beyond a million were made. This leads to speculations of investors anticipating the price breakout and placing big bids in the market.
Delving into the market cap, the total circulating supply of SHIB is estimated to be about $8.2 billion. Since it has been consistently hitting lifetime highs, investors anticipate the pricing of SHIB to reach steeper heights in the coming days.
The trend of Shiba Inu might be set to continue as the project’s rising cost has been steadily gaining more attention than before. As the investors hope for further gains, Shiba Inu is projected towards higher heights.
Caroline Lewis
- 2023-04-02
Analyzing Shiba Inu Cryptocurrency Network's Active Addresses
In the last month Shiba Inu cryptocurrency network has experienced the largest surge of active addresses since the beginning of the year. This article provides analysis of the SHIB transaction activity, its market cap and speculations of investors anticipating the price breakout.
