The Ethereum blockchain now hosts over 900,000 wallets holding Shiba Inu ($SHIB) tokens, marking a significant milestone despite the cryptocurrency's recent price downturn. Data from Etherscan reveals 912,290 active ETH wallets containing SHIB, up from fewer than 700,000 in early October.
Key Metrics and Trends
- Holder Growth: Crossed 800,000 wallets just one week prior to hitting 900,000.
- Price Performance: SHIB down ~25% weekly but remains +300% monthly.
- Market Frenzy: Earlier 900% price surge driven by retail demand and token burns.
"Current holders are 912,320 ❤️❤️"
— @Shibinufamily (November 5, 2021)
Understanding the Data
The 900,000 figure reflects Ethereum wallets, not unique individuals. A single holder may control multiple wallets, while exchanges consolidate funds for thousands of users. Notably, large holders (e.g., the investor who turned $8,000 into $5.7 billion) have redistributed holdings across new addresses.
Market Dynamics
SHIB’s trading volume briefly rivaled Ethereum’s, fueled by social media buzz. Elon Musk’s tweet denying SHIB ownership temporarily spiked interest. Meanwhile, India’s Diwali festival saw SHIB dominate local exchange volumes.
Institutional Interest
Scott Minerd (Guggenheim Partners) publicly expressed regret for missing SHIB’s rally. Additionally, the Ethereum whale "Gimli" invested $11 million in SHIB during its dip, signaling high-profile confidence.
Global Search Popularity
SHIB ranks as the third-most Googled cryptocurrency in 2021:
- Bitcoin: 22M monthly searches
- Ethereum: 6.3M
- SHIB: 2.8M
👉 Explore SHIB’s latest price trends
FAQ Section
Q: Why is SHIB’s price falling despite growing holders?
A: Market corrections often follow rapid surges. Holder growth indicates long-term interest, while price reflects short-term volatility.
Q: How many SHIB tokens are burned monthly?
A: Burns vary; large transactions (e.g., Gimli’s $11M buy) can temporarily reduce supply.
Q: Is SHIB available on major exchanges?
A: Yes, including platforms like OKX 👉 Trade SHIB here.
Q: What drives SHIB’s search volume?
A: Meme culture, celebrity mentions, and retail investor hype.
Note: All data is sourced from public blockchain explorers and market analytics tools.