The number of wallet addresses on the Shiba Inu layer-2 network Shibarium has increased by over 490% in the past week, reaching over 55.7 million. This spike in wallet addresses is linked to the memecoin project Chiikawa (CHIKA), which was created by WOOF, a Shibarium-based decentralized exchange. Chiikawa has a unique minting mechanism that allows users to create wallets and mint up to 1 billion tokens, with 20% of the minted amount randomly airdropped to 160 others. While this activity does not directly affect the price of ecosystem tokens like SHIB, it could have positive implications in the long term by bringing in new users to the Shibarium network.



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