• Siba Inu saw a spike in network growth.
• SHIB has seen consecutive declines since then.

Shiba Inu [SHIB] has witnessed a notable increase in network growth, sparking discussions about its impact on the token’s price trajectory.

With metrics such as daily active addresses, transaction volume, and price movement painting a compelling picture, what could this recent activity mean for SHIB?

Explosive network growth and active participation

Analysis showed a notable spike in Shiba Inu’s new wallet addresses. The data showed that the network recorded over 7,600 new addresses, indicating a significant influx of new participants.

This growth is often associated with increased speculative interest or broader adoption, both of which can act as catalysts for price appreciation.

When correlated with the daily active addresses chart, a similar trend emerges. Daily active addresses surged to over 18,000 during the same period, representing one of the highest activity levels for SHIB this year.

The combination of these metrics signals that not only are new users entering the ecosystem, but existing holders are increasingly engaging in transactions.

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Author: Adewale Olarinde

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