Last updated on May 18th, 2024 at 11:55 am
Trending memecoin Shiba Inu has recorded an increase in its number of trillionaire wallets according to recent data. The dog-themed coin has experienced this impressive growth over the last 30 days.
In a surprising turn of events, wallets holding trillions of Shiba Inu tokens are on the rise according to data from IntoTheBlock. Per the report, the number of wallets holding trillions of SHIB has increased by 17.07% in the last month.
For context, “trillionaire wallet addresses” are those wallets that hold between 1 trillion SHIB tokens and above. Impressively, the balances present in these trillionaire wallets also increased. Significantly, the balance held by the wallet category increased by over 21%.
However, trillionaire wallets holding up to 100 trillion SHIB experienced a drop in the number of addresses. On the other hand, SHIB millionaire wallets, particularly those holding between 1-10 million Shiba Inu tokens experienced a slight increase in the numbers. According to the data, only about a 0.14% increase was recorded.
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Shiba Inu has been in the news lately for different reasons and has continued to maintain its spot in the list of top 10 trending cryptocurrencies in the market alongside other projects like PEPE, Shiba V Pepe (SHEPE), Access Protocol (ACS), and others.
Related Reading: Shiba Inu Among the Top Trending Cryptocurrencies Over the Past Week
Shibarium experiences unprecedented growth
Layer 2 blockchain solution, Shibarium has experienced impressive growth since its relaunch almost 2 weeks ago. The project was initially launched during the Blockchain Futurist Conference in Toronto, Canada on August 16.
Shiba Inu was one of the major sponsors of the event and Kaal Dhairya – a developer for Shiba Inu was one of the key speakers. However, after the release of the project, it experienced some technical glitches that forced it into private mode.
Shortly after, on August 28, the project was relaunched with the help of the Polygon team and other notable individuals as listed in a Shiba Inu blog post. Since the relaunch, the blockchain scaling solution has recorded impressive growth as seen on Shibariumscan.
According to the latest data, the total number of wallet addresses on Shibarium has grown beyond 1 million, reaching 1,119,740. Furthermore, the total number of transactions stands at 1,405,059.
Source: Shibariumscan
Shiba Inu (SHIB) price today
Source: Coinstats
Meanwhile, the new feat reached by Shibarium and the rise in the number of trillionaire wallets does not seem to positively impact the price of SHIB. In fact, live data from Coinstats show that the price of SHIB is currently down by -0.33% in the last 24 hours, trading at $0.000007. What’s more, Shiba Inu has a market cap of $4 billion with a 24-hour trading volume of $79 million. Ultimately, SHIB is ranked #16 on the global cryptocurrency market chart.
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Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.