Home Altcoin Shiba Inu Network Activity Spiked 240% in 48H

Shiba Inu Network Activity Spiked 240% in 48H

  • Shiba Inu’s trading volume surged 40% in the last 24 hours.
  • New addresses on the Shiba Inu ecosystem also spiked 13% in 48h.

Active addresses on Shiba Inu surged over 240% in the last 48 hours. This is one of the most significant hikes after the Shibarium beta launch. Significantly, the network recorded its 3-month-high on Tuesday by registering the activity of 15.6k addresses. 

The memecoin network has begun sustaining its bullish trajectory after a slower growth pace since the beta launch. This is evident from the current increase observed among the participants transacting SHIB tokens.

Active Addresses in Shiba Inu Ecosystem (Source: Glassnode)

Moreover, the number of new addresses registered on the Shiba Inu ecosystem also increased by 13% in the last 48h. According to data from glassnode, on March 27, nearly 1,739 new addresses were created. Gradually, the count spiked to 1,966 on Wednesday.

Shiba Inu Preparing For A Rally?

Recently, a famed SHIB enthusiast posted that the number of wallets on the Shibarium beta testnet, Puppynet, surpassed 100k. The statistics revealed that transactions on the L2 blockchain hit an all-time high of 144k since the launch date. At press time, the total transaction count recorded on the testnet was 194,531. 

On the contrary, the SHIB burn rate, which attained massive surges recently, displayed an increase of less than 1% in the last 24h. According to Shibburn, only 8.04 million SHIB tokens were burnt in the specific time frame.

At the time of writing, 573,807,407,163,251 SHIB were in circulation with each token priced at $0.00001066. On the other hand, the siblings of SHIB, BONE and LEASH, exhibited low-key declines. At press time, Bone ShibaSwap (BONE) was down 0.3% to trade at $1.07. While Doge Killer (LEASH) was down 2.15% to trade at $380.16.

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