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Shiba Inu developer’s Twitter update boosts morale as SHIB wipes 50k holders in a week

Shiba Inu developer's Twitter update boosts morale as SHIB wipes 50k holders in a week

Despite the price of Shiba Inu (SHIB) gaining 34% since the year’s turn, it has suffered a decline in the number of its holders in recent weeks. However, its lead developer’s Twitter profile update suggests a renewal of interest could be in store as the cryptocurrency community awaits its Layer 2 blockchain solution.

Indeed, on April 1, the number of cryptocurrency wallets holding Shiba Inu stood at 1,279,122, compared to 1,330,473 just days earlier – on March 27. In other words, the dog meme cryptocurrency had lost over 50,000 holders in mere five days. However, it has slightly recovered since, gaining 7,160 addresses by April 9, as per data retrieved from CoinMarketCap on April 10.

Total Shiba Inu addresses in last 3 months. Source: CoinMarketCap

Shibarium effect

As a reminder, the Shiba Inu coin surpassed 1.3 million addresses in February, as crypto traders and investors started to accumulate it in anticipation of Shibarium. At the time, its primary developer, Shytoshi Kusama, stated that the project was ready to be launched. On March 24, the team released public documentation for the Shibarium beta.

Meanwhile, Kusama has updated his profile location to “in the Lab,” as shared by the Shiba Inu community’s Twitter profile SHIBARMY, suggesting that this could have something to do with the intensification of his work on the Shibarium project, which could help SHIB bring back its holders.

Shiba Inu price analysis

As things stand, SHIB is currently changing hands at the price of $0.00001088, down 0.05% on the day but still recording gains of 0.47% across the previous week and 5.69% in the last 30 days, according to the latest data retrieved on April 10.

Shiba Inu 30-day price chart. Source: Finbold

Notably, the crypto community members at CoinMarketCap have set the price of Shiba Inu at $0.00001131 by the end of April, indicating optimism as the predicted price represents an increase of over 3% to its current price, as Finbold reported.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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