- Despite the ongoing crypto market downturn, the Shiba Inu ecosystem continues to grow, reaching an impressive 1.5 million holders since its launch in 2020.
- According to Shibariumscan, Shibarium’s total block count has officially surpassed 10 million, showcasing the network’s steady adoption and growing on-chain activity.
The Shiba Inu (SHIB) cryptocurrency community has recently celebrated two significant milestones, underscoring the project’s growth and the increasing adoption of its Layer-2 solution, Shibarium. On March 18, the number of Shiba Inu investors crossed the 1.5 million mark, according to an X post by the project’s marketing lead, Lucie. Since then, the number of SHIB holders has continued to grow, with 843 additional addresses joining the ecosystem as of Wednesday.
SHIB has reached 1.5 million on-chain holders! 😍 pic.twitter.com/sKaAO57R6I
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) March 18, 2025
The increasing number of holders suggests continued retail and institutional interest in Shiba Inu. Historically, growth in wallet addresses has correlated with higher adoption rates, network activity, and potential long-term price appreciation.
Shibarium Hits 10 Million Blocks
Alongside the surge in SHIB holders, Shibarium has crossed another milestone, surpassing 10 million blocks. As per Shibariumscan, Shibarium has processed 10,013,845 blocks, demonstrating high network reliability and longevity. Notably, the ecosystem takes approximately 5.0 seconds to process a new block.
Shibarium has been instrumental in the burning of SHIB tokens, a critical mechanism that helps reduce supply and potentially increase the asset’s value over time. Recent data shows that Shibarium has facilitated the burn of over 713 million SHIB tokens, reinforcing its role in SHIB’s long-term deflationary strategy. Meanwhile, 410.75 trillion SHIB has been burned from the initial supply, effectively reducing the total available tokens. With a maximum supply of 999.98 trillion SHIB, the current total supply stands at 589.25 trillion SHIB.
Moreover, the total number of addresses on Shibarium has surged in recent weeks, nearing 175 million. This exponential growth highlights increasing adoption and use cases for the Layer-2 network, positioning it as a key infrastructure within the Shiba Inu ecosystem.
Recently, Lucie unveiled Shib OS, a decentralized governance platform designed to transition governments and enterprises from outdated centralized systems to more transparent and efficient decentralized models. Shib OS is built upon Shiba Inu’s layer-2 platform, Shibarium, ensuring immutability, reliability, and security.
Building on this, a major upgrade is in development for Shibarium. As discussed earlier, the upcoming improvements will focus on two crucial aspects: token promotion and simplified launches. The Pump Token feature will act as a voting and discovery system, helping users identify and boost new tokens on Shibarium. Alongside this, a user-friendly token creation tool will be introduced, allowing seamless token deployment on the network in just a few clicks.
Despite strong bullish fundamentals, SHIB has faced challenges amid market volatility. Over the past 30 days, the token has declined by 20%, reflecting broader market fluctuations. However, signs of recovery have emerged, with SHIB gaining 3.7% in the past week. Currently trading at $0.00001276, the token faces a key resistance level at $0.000019. Meanwhile, trading activity has slowed, with SHIB’s 24-hour volume dropping 25.96% to $143 million.
