Shiba Inu Sets New Record; Wallet Addresses Reached 3 Million

Shiba Inu prices declined approximately 75-80% in the last year.
Wallet addresses surged by 35% in the last year.

Since the beginning of 2022, Shiba Inu has been in the limelight because of its over-minted tokens and their burning procedure.

According to the recent reports of Glassnode, the total number of Shiba addresses reached 3 million and is continuing to climb further, but the prices of tokens have been struggling in the last few months.

Shiba Inu’s address has increased by approximately 35% in the last year since 2022.

Few crypto analysts believe that the decreased prices of Shiba tokens are the crypto winters and the collapse of several other crypto-related firms like Celsius, Voyagers Digital,3AC and Terra Luna crash.

Although the DOGE price witnessed impressive growth following Elon Musk’s buying of Twitter, Shiba Inu remained struggling.

As per official data from the SHIBBURN Twitter account, Shiba Inu has transferred around 1,348,314 tokens in dead wallets in the past few hours.

According to Shibburn(dot)com, the total burnt Shiba tokens from the initial supply is 410,383,130,796,063, from which the total burned tokens in the last 24 hours is around 4,141,868 $SHIB.

According to data from CoinMarketCap, While writing this articleShiba token is trading at $0.00000889 with a 24-hours trading volume of Shiba Inu is around $122,989,991.

Shiba INU Price is observing sideways territory due to low trading volume. Buying interest seems low as per trading volume. Asset price is hovering closer to the demand zone, so the price pump is likely ahead.

Earlier on November 23, 2022, it was noted that Shytoshi Kusama, the anonymous developer of the meme coin Shiba Inu, wrote in his Twitter thread about the WEF invitation (World Economic Forum) to work together on global metaverse policy(MV).

#ShibArmy I need a quick vote: We have been kindly invited to work with the WORLD ECONOMIC FORUM as it pertains to their MV global policy. Would love to know what you all think because it’s not our decision, but yours.
— Shytoshi Kusama™ (@ShytoshiKusama) November 22, 2022

Shytoshi organised an audience poll and asked the users to vote on the poll. The majority of users, around 62.6%, favour working with WEF, 27.2% are against the collaboration, and the remaining 10% don’t care about the matter.

In the same Twitter thread, Shytoshi noted that Shiba Inu developers would be in the metaverse alongside social media and tech giant Meta(Facebook, Instagram, Whatsapp), including Decentraland, the crypto-native project.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing