Shiba Inu’s Rise: Daily Activity Soars

Remember Dogecoin? Well, there’s a new dog-themed cryptocurrency that’s making waves: Shiba Inu (SHIB).

Surge in Daily Active Addresses

After a lull, SHIB’s network has seen a huge spike in daily active addresses. From February’s average of 3,100, it’s jumped to over 8,400 in March, a 170% increase. This shows that the Shiba Army is back in action.

Increased Trading Volume

Along with the surge in activity, SHIB’s trading volume has also soared. It reached $16 billion on March 5th, making it one of the top 5 cryptocurrencies by volume that day.

Signs of Long-Term Growth

While the current frenzy is exciting, the real test for SHIB is whether it can keep up the momentum. Some indicators suggest long-term potential:

  • The number of new addresses (new users) has increased by 60% in the past week.