SHIB price movement after project reached over 3 million addresses

The number of addresses now on the Shiba Inu (SHIB/USD) network has managed to reach a new peak and has over 3 million in total.

Additionally, Shiba Inu (SHIB) has added over 600 new HODLers daily throughout the month, despite the ongoing bear market.

Shiba Inu is a meme-based cryptocurrency that evolved into an entire ecosystem and has managed to climb the ranks in terms of market capitalization quickly.

Network growth to boost the future value 

Based on data gathered by Glassnode, the number of addresses in the network reached a new peak, as the figure reached 3 million and has carried on climbing. 

The overall increase in Shiba Inu addresses from the beginning of the year is 35%.

Furthermore, based on data from the Ethereum blockchain explorer, Ethersscan, the number of unique addresses holding Shiba Inu on the blockchain grew from 1.251 million to over 1.258 million, which showcase the network has been adding 600 new HODLers daily.

Both of these factors can contribute to the future growth in the value of cryptocurrency.

Should you buy Shiba Inu (SHIB)?

On December 13, 2022, Shiba Inu (SHIB) had a value of $0.00000892.

SHIB/USD Chart by Tradingview

The all-time high of the Shiba Inu (SHIB) cryptocurrency was on October 28, 2021, at a value of $0.00008616. Here we can see that at its ATH, the token was $0.00007724 higher in value, or 866% higher.

When we go over the 7-day performance, Shiba Inu (SHIB) had its low point at $0.00000864, while its high point was at $0.00000938. Here we can see a $0.00000074 difference, or by 8%.

In terms of the 24-hour performance, Shiba Inu’s (SHIB) low point was at $0.00000869, while the high point was at $0.00000899. This marked a $0.0000003 difference or by 3%.

Investors will want to buy Shiba Inu (SHIB), as it can climb to 0.000012 by the end of December 2022, an increase of 34%.

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