Investors have flocked to digital assets in pursuit of large returns, fueling the recent surge in the cryptocurrency market. One of those who has benefited the most from this is the Shiba Inu.
The meme coin network is on fire, with its latest growth renewing hope in the community. The network recorded a staggering number of daily new addresses during the second quarter, a sign that investors are bullish on the future of the meme coin.
IntoTheBlock’s latest quarterly update on Shiba Inu revealed some eye-popping findings. The report showed that SHIB experienced a staggering increase in the number of daily new addresses throughout the second quarter of this year.
The Shiba Inu community is growing rapidly, with the number of holders’ addresses increasing by an impressive 7,790 since last Friday.
The price of SHIB rebounded significantly, coinciding with a surge in new addresses for the meme coin.
The number of SHIB addresses with a balance of 0 has fallen from 2,650 to 1,520 since Friday. This suggests that investors are accumulating SHIB at a discount, in anticipation of the meme coin’s next bull run.