TL;DR
The popular memecoin – Shiba Inu – has passed through countless achievements during its approximately three-year existence. According to recent data, SHIB wallets with a balance of over $0 have spiked to 1.26 million. In comparison, this figure was just 8,460 in February 2021, representing an almost 15,000% increase.
Reaching the impressive milestone could be attributed to numerous factors, such as SHIB’s price rally during the bull run two years ago. The asset’s valuation hit an all-time high in October 2021, whereas its market capitalization exceeded the $40 billion mark.
Another element boosting the number of non-zero addresses could be different programs that Shiba Inu’s team has embraced to swell the asset’s adoption. One such strategy is the burning mechanism.
As CryptoPotato reported, Shiba Inu witnessed almost 1.5 billion tokens sent to an address that nobody could access in October. Most recently, the memecoin project saw a 19,000% increase in its burn rate on a 24-hour scale.
The further advancement of Shiba Inu’s layer-2 blockchain solution – Shibarium – might be another reason why the memecoin has been rapidly progressing in the past several months.
The network saw the light of day in August and has already blasted through multiple important milestones. Its total transactions surpassed the 4 million mark, while the number of total addresses is inching towards 1.3 million.
Those willing to dive deeper into the matter and learn more about Shibarium’s specifics and purposes could take a look at our video below:
