Shiba Inu: 24,000 New Wallets Opened in April... Will it Revive in the Second Half?

▲ Shiba Inu (SHIB)

The Shiba Inu (SHIB) ecosystem recorded explosive growth, adding 24,000 new wallets in April alone. Furthermore, whale investors are firmly holding their assets, raising expectations for long-term price appreciation.

U.Today, a cryptocurrency specialized media outlet, reported on May 4 (local time) that the total number of Shiba Inu wallet addresses is approaching 4 million, thanks to network activation and ecosystem expansion. The continuous influx of new users is strengthening network activity, indicating that it is securing a substantial user base beyond a mere trend. The steady increase in new wallet numbers, despite market volatility, is proof of the market's robust confidence in Shiba Inu.

The movements of large investors are also noteworthy. According to on-chain data, whales holding a significant portion of Shiba Inu's total supply have maintained their holdings even during recent price correction periods, without selling. This behavior suggests that these whales perceive the current price level as a bottom and are preparing for a larger rebound in the future. In a situation where asset concentration is high, the strong willingness of whales to hold acts as a powerful defense against sharp price declines.

The burning mechanism of the Shiba Inu ecosystem is also a key factor in supporting asset value by controlling supply. The community-led burning of millions of SHIB daily, which reduces circulating supply, supports long-term price increases. Due to the structural characteristic where the burning rate accelerates with increased network usage, the influx of new users and the growth in wallet numbers directly cause a supply shortage.

Shiba Inu's status in the global cryptocurrency market is being re-evaluated as an asset with independent technological capabilities, beyond just a meme coin. As various projects within its ecosystem bear fruit, its potential for use as a practical payment method is also growing. In a phase where institutional investor interest is expanding from Bitcoin to altcoins, the dominant assessment is that Shiba Inu, with its strong user base and whale support, has secured the next generation of upward momentum.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*