Shiba Inu surpasses 1.8 million holders across Ethereum and Shibarium

Milestone driven by multi-chain adoption

The achievement was brought to light by Mazrael, a long-standing member of the Shiba Inu community, who referred to data showing that SHIB’s total holder count was approaching 1.7 million addresses according to Etherscan. In response, Mazrael emphasized the need to assess SHIB’s growth on all participating networks, arguing that a single-chain figure does not fully reflect the token’s widespread adoption.

“We are MultiChain. Shiba is everywhere. You need to add holders on all chains. With Eth and Shibarium alone we are actually above 1.8m addresses,” Mazrael wrote in a recent message. He provided a screenshot from ShibWallet showing a combined total of 1.84 million SHIB holders spanning Ethereum and Shibarium.

Shiba Inu’s expansion is not limited to one chain. Including both Ethereum and Shibarium, the number of addresses holding SHIB now exceeds 1.8 million.

Other tokens within the Shiba Inu ecosystem have also expanded across both networks. BONE, a governance and utility token, now has 98,600 holders, while LEASH has 53,800 holders. TREAT, a newer ecosystem entrant, has a holder count of 4,700.

Ethereum continues to serve as the primary network for SHIB, while activity on Shibarium, the project’s layer-2 blockchain, has strengthened SHIB’s on-chain presence and user engagement.

Mini dictionary: Shibarium is an Ethereum Layer-2 blockchain designed by the Shiba Inu team to enhance transaction efficiency and lower gas fees, enabling faster and more cost-effective transfers within the Shiba Inu ecosystem.

Market performance and price action

SHIB experienced four consecutive days of decline earlier in the week but began to recover following a broader rebound in the cryptocurrency market. The recovery started from a low of $0.000005 on Friday, with investors showing resilience despite anticipation of a Federal Reserve rate increase after the latest inflation report.

Inflation data showed that the US consumer price index rose by 0.4% in August from the previous month and by 3.4% compared to the previous year. This result was in line with forecasts made by analysts at Dow Jones.

SHIB’s rebound carried the token back to a high of $0.00000539 early Saturday, with price action hovering near the $0.00000540 resistance. Sustained price movement above this level is being closely monitored as a potential signal for further recovery in SHIB’s value.

The potential for further gains in SHIB will depend on whether bulls can hold the token above the $0.00000540 threshold and build on Friday’s recovery momentum.