Key Insights:
- Shiba Inu reached an all-time high of 1,510,290 holders on June 7, gaining nearly 3,000 new addresses since May 24.
- Over 7.5 trillion SHIB tokens, valued at over $100 million, were moved to Coinbase Institutional in one week.
- SHIB’s price rose 3.37% in 24 hours to $0.00001285, with trading volume reaching $162.30 million when writing.
In recent Shiba Inu news, the meme coin continues to attract market attention amid growing adoption and substantial whale movements. On-chain data and recent transactions suggest growing activity around the token.
Shiba Inu News: SHIB Holder Count Reaches All-Time High
Notably, recent Shiba Inu news noted that the number of on-chain SHIB holders reached a new record on June 7. Blockchain tracking data from @Etherscan_SHIB shows a rise in SHIB holders. The total number of unique addresses has reached 1,510,290.
This figure reflected an increase of approximately 2,980 holders in less than two weeks. On May 24, the recorded holder count stood at 1,507,310.
Consequently, this upward trend in wallet creation showed steady participation from retail investors. The number may appear modest in absolute terms.
However, the consistent growth pattern is seen across various blockchain address monitoring platforms. Increased wallets count often signals expanding token adoption and heightened interest from individual users.
7.5 Trillion SHIB Tokens Transferred to Coinbase Institutional
In other Shiba Inu news, blockchain activity involving large SHIB movements has drawn attention. Whale Alert, a blockchain monitoring service, flagged three high-volume transactions involving more than 7.5 trillion SHIB tokens. All were sent to Coinbase Institutional over the past week.
Additionally, the most recent of these transfers occurred around 18 hours before the time of writing, with approximately 2.54 trillion SHIB moved. The estimated value of that transaction was nearly $31.6 million.
Earlier transactions included a 2.87 trillion token transfer worth around $36.6 million and another large transfer before that.
Moreover, all three transactions originated from wallets labelled “unknown” by Whale Alert. These wallet addresses are not publicly linked to centralized exchanges or known entities.
Crypto forums and social media are buzzing with speculation about token movements. Discussions focus on portfolio rebalancing and liquidity decisions.
Shiba Inu Price Recorded Over 3% Daily Gain
Amid the recent Shiba Inu news, the SHIB price has responded to the increase in on-chain activity. As of the latest data, SHIB traded at $0.00001285, reflecting a 24-hour increase of 3.37%. The token’s daily trading volume stood at $162.30 million during the same period.
More so, the SHIB price rise followed a period of moderate market movement amid a broader pattern of increased activity surrounding the token.
Analysts monitoring SHIB’s daily price charts note short-term bullish momentum. However, chart indicators have yet to confirm a broader trend shift.
Despite large whale transfers to Coinbase Institutional, SHIB has retained price stability. This suggests that market absorption is strong at current trading levels. The token’s resilience in price performance may be linked to its broad retail holder base and the expansion of the ecosystem.
SHIB Ecosystem Growth Supports Retail Participation
Meanwhile, Shiba Inu’s ongoing developments in ecosystem infrastructure continue to attract community participation. Among the key projects is Shibarium, the network’s Layer 2 blockchain solution to improve transaction efficiency and lower gas costs.
Furthermore, the project’s roadmap includes decentralized applications (dApps), DeFi tools, and integrations within Web3 platforms. These initiatives encourage ongoing wallet creation, as users prepare to interact with upcoming applications.
In parallel, SHIB’s increasing utility in digital payments and gaming has contributed to organic adoption. Several merchants now accept SHIB as payment, and various blockchain games have begun incorporating SHIB as a reward or in-game currency.