{"id":602682,"date":"2024-04-11T14:00:58","date_gmt":"2024-04-11T14:00:58","guid":{"rendered":"https:\/\/wncen.com\/?p=602682"},"modified":"2024-06-11T08:04:29","modified_gmt":"2024-06-11T08:04:29","slug":"shiba-inu-surpasses-4-million-addresses-ignites-frenzy","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-surpasses-4-million-addresses-ignites-frenzy\/","title":{"rendered":"Shiba Inu Surpasses 4 Million Addresses, Ignites Frenzy"},"content":{"rendered":"

Shiba Inu has achieved a significant milestone by surpassing 4 million addresses.<\/a> This feat marks a historic moment for the token, symbolizing its growing popularity within the digital asset community. Analysis of address metrics on Glassnode reveals a steady uptrend in Shiba Inu’s address count over the past few months, culminating in this impressive milestone.<\/p>\n

Related Reading: Uniswap Bloodbath: UNI Price Crashes 16% On SEC Lawsuit Fears<\/a><\/div>\n

Address Growth Signals Potential, But Activity Paints A Different Picture<\/strong><\/h2>\n

While the increase in total addresses may initially appear promising, a closer examination of Shiba Inu’s activity metrics paints a contrasting picture. Despite the surge in address count, the number of active addresses has experienced a notable decline from previous highs. This discrepancy suggests that while there is a growing number of addresses associated with Shiba Inu, the level of actual activity within the network remains relatively low.<\/p>\n

\"\"Source: Glassnode<\/pre>\n
Furthermore, the analysis of new addresses follows a similar downward trajectory, indicating a decrease in the rate of adoption or interest in the token. These trends raise questions about the sustainability of Shiba Inu’s growth and its ability to maintain momentum in the highly competitive cryptocurrency market.<\/p>\n
Shiba Inu Price Action Stagnates Amidst Uncertainty<\/strong><\/h2>\n
Against this backdrop of mixed signals, Shiba Inu’s price<\/a> action has experienced a period of stagnation. Although there was a notable spike in price around March 5th, coinciding with increased address activity, the token has since struggled to maintain momentum. Currently trading around $0.000027, Shiba Inu’s price reflects a lack of clear directional bias, signaling uncertainty among investors and traders.<\/p>\n
<\/p>\n
Shiba Inu is now trading at $0.000027. Chart: TradingView<\/a><\/pre>\n
Analysts attribute Shiba Inu’s stagnant price movements to a combination of factors, notably including prevailing sentiments across the cryptocurrency market and a lack of significant developments specific to the token.<\/p>\n
Despite its widespread recognition and community support, Shiba Inu’s valuation remains susceptible to external influences and market dynamics, indicative of the inherent volatility within the cryptocurrency ecosystem.<\/p>\n
Related Reading: CEO Throws Cold Water On May Ethereum ETF Approval \u2013 Impact On Price<\/a><\/p>\n
While Shiba Inu enjoys a dedicated following, its price trajectory underscores the importance of monitoring both internal and external catalysts that could impact its valuation. Analysts caution investors to exercise prudence and recognize the nuanced relationship between Shiba Inu’s price and the broader cryptocurrency market dynamics.<\/p>\n
Trading Volume Indicates Stability Amidst Fluctuations<\/strong><\/h3>\n
Meanwhile, in addition to price action, the trading volume for Shiba Inu has remained relatively stable in recent times. With trading activity hovering around $527 million, there have been no significant spikes or declines observed in the near term.<\/p>\n
This stability suggests that while the overall market sentiment may be uncertain, there is still a consistent level of interest and participation in Shiba Inu trading activities.<\/p>\n
Featured image from Pexels, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Shiba Inu has achieved a significant milestone by surpassing 4 million addresses. This feat marks a historic moment for the token, symbolizing its growing popularity within the digital asset community. Analysis of address metrics on Glassnode reveals a steady uptrend in Shiba Inu’s address count over the past few months, culminating in this impressive milestone. Related Reading: Uniswap Bloodbath: UNI Price Crashes 16% On SEC Lawsuit Fears Address Growth Signals Potential, But Activity Paints A Different Picture While the increase in total addresses may initially appear promising, a closer examination of Shiba Inu’s activity metrics paints a contrasting picture. Despite the surge in address count, the number of active addresses has experienced a notable decline from previous highs. This discrepancy suggests that while there is a growing number of addresses associated with Shiba Inu, the level of actual activity within the network remains relatively low. Source: Glassnode Furthermore, the analysis of new addresses follows a similar downward trajectory, indicating a decrease in the rate of adoption or interest in the token. These trends raise questions about the sustainability of Shiba Inu’s growth and its ability to maintain momentum in the highly competitive cryptocurrency market. Shiba Inu Price Action Stagnates Amidst Uncertainty Against this backdrop of mixed signals, Shiba Inu’s price action has experienced a period of stagnation. Although there was a notable spike in price around March 5th, coinciding with increased address activity, the token has since struggled to maintain momentum. Currently trading around $0.000027, Shiba Inu’s price reflects a lack of clear directional bias, signaling uncertainty among investors and traders. Shiba Inu is now trading at $0.000027. Chart: TradingView Analysts attribute Shiba Inu’s stagnant price movements to a combination of factors, notably including prevailing sentiments across the cryptocurrency market and a lack of significant developments specific to the token. Despite its widespread recognition and community support, Shiba Inu’s valuation remains susceptible to external influences and market dynamics, indicative of the inherent volatility within the cryptocurrency ecosystem. Related Reading: CEO Throws Cold Water On May Ethereum ETF Approval \u2013 Impact On Price While Shiba Inu enjoys a dedicated following, its price trajectory underscores the importance of monitoring both internal and external catalysts that could impact its valuation. Analysts caution investors to exercise prudence and recognize the nuanced relationship between Shiba Inu’s price and the broader cryptocurrency market dynamics. Trading Volume Indicates Stability Amidst Fluctuations Meanwhile, in addition to price action, the trading volume for Shiba Inu has remained relatively stable in recent times. With trading activity hovering around $527 million, there have been no significant spikes or declines observed in the near term. This stability suggests that while the overall market sentiment may be uncertain, there is still a consistent level of interest and participation in Shiba Inu trading activities. Featured image from Pexels, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":602694,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[134,4735,3505,83668,83667],"class_list":["post-602682","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-altcoin","tag-price-action","tag-price-analysis","tag-shib","tag-shiba-inu"],"acf":[],"yoast_head":"\nShiba Inu Surpasses 4 Million Addresses, Ignites Frenzy<\/title>\n<meta name=\"description\" content=\"Shiba Inu has achieved a significant milestone by surpassing 4 million addresses. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shiba Inu Surpasses 4 Million Addresses, Ignites Frenzy","url":"http:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-surpasses-4-million-addresses-ignites-frenzy\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/shiba-inu-coin\/shiba-inu-surpasses-4-million-addresses-ignites-frenzy\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/a_91d8eb.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/a_91d8eb.jpg?fit=1280%2C853"},"articleSection":"Shiba Inu Coin","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","price action","price analysis","shib","shiba inu"],"dateCreated":"2024-04-11T14:00:58Z","datePublished":"2024-04-11T14:00:58Z","dateModified":"2024-06-11T08:04:29Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shiba Inu Surpasses 4 Million Addresses, Ignites Frenzy\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-surpasses-4-million-addresses-ignites-frenzy\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/shiba-inu-coin\\\/shiba-inu-surpasses-4-million-addresses-ignites-frenzy\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/a_91d8eb.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/a_91d8eb.jpg?fit=1280%2C853\"},\"articleSection\":\"Shiba Inu Coin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"price action\",\"price analysis\",\"shib\",\"shiba inu\"],\"dateCreated\":\"2024-04-11T14:00:58Z\",\"datePublished\":\"2024-04-11T14:00:58Z\",\"dateModified\":\"2024-06-11T08:04:29Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/a_91d8eb.jpg?fit=1280%2C853","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/602682"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=602682"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/602682\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/602694"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=602682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=602682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=602682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}