The last couple of months have been exceptional for the crypto industry. A plethora of assets witnessed a major spike in value and network activity. Shiba Inu [SHIB] was one among them. The meme coin network renewed hope in the community with its latest growth. This was reflected through the raging growth of daily new addresses that the network recorded during the second quarter. In its latest quarterly update on Shiba Inu, IntoTheBlock unveiled significant findings. According to their report, SHIB experienced an outstanding upswing in the number of daily new addresses throughout the second quarter of this year.
As seen above, it has been observed that SHIB achieved a significant milestone on June 27 by recording more than 4,000 new addresses. This surge represented an astonishing 357% increase compared to the quarterly low of 877 new addresses recorded on May 21.
During the second quarter, Shiba Inu witnessed a remarkable surge in daily active addresses. This was in addition to the increase in new addresses. Santiment’s data revealed that on June 11, SHIB reached a peak of 42,822 active addresses within a 24-hour period. This represented the highest count of daily active addresses observed in more than a year.
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How is Shiba Inu faring lately?
Sadly, the beginning of the third quarter of 2023 brought a sense of disappointment. As of now, the daily active addresses in the SHIB network have experienced a decline of 9.5%. Presently, there are only 5.29K active addresses. In contrast, the network witnessed a significant surge of 103% in large transaction volume, resulting in a final figure of $15.72 million. Additionally, at press time. SHIB was trading for $0.000007773 with a 1.52% daily surge.
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