Strong network growth despite weak price development in 2023: Shiba Inu (Shib) wins back the attention of crypto enthusiasts

Strong network growth despite weak price development in 2023: Shiba Inu (Shib) wins back the attention of crypto enthusiasts

Shiba Inu (Shib), the popular Meme cryptocurrency, showed a remarkable resistance in relation to network growth in June, despite a weak price development in 2023. The increasing interest and increasing activity within Shiba Inu community show that the meme coin has been drawn back in recent weeks has.

In particular, there was a strong increase in the new daily addresses at Meme coins last month. According to the crypto behavioral analysis platform Santiment, more than 2,500 new addresses per day were continuously added. Despite some declines, the newly created daily addresses on the Shib blockchain last month remained largely over the 2,500 mark, which indicates strong network growth. Towards the end of the month, the number of new daily addresses even rose to over 4,000.

This increase represents an impressive jump of 357% compared to the quarterfield of 877 new addresses on May 21, as can be seen from the data provided by Intothlock. In addition, Shiba Inu also recorded a significant increase in the daily active addresses. On June 11, a new record of 42,822 active addresses was reached within 24 hours, the highest value for more than one year.

In terms of price, Shib was traded at $ 0.000007602 at the time of printing, which corresponds to an increase of 1.1% in the last 24 hours. Although Shib has fallen by over 5% in the last 30 days, it has increased by more than 3% on the weekly chart. Shib has dropped by around 5.7% since the beginning of the year and is one of the few major cryptocurrencies that have lost losses this year, in contrast to Bitcoin, Ethereum, XRP and Bitcoin Cash, which have benefited from the broader market rally.

According to the price forecast of prices for prices, Shib will reach $ 0.000008 on July 31, which corresponds to a slight increase of 3.6% compared to the current price. However, it is important to note that the content of this website should not be regarded as investment advice and that investments are speculative.

All in all, the boom of the Shib network in June shows with 2,500 new addresses a day that Shiba Inu, despite the weak price development