The number of Shiba Inu (SHIB) wallet holders has reached 1.5 million for the first time ever, indicating growing global adoption and use cases.
Massive transfers of 7.5 trillion SHIB tokens, valued at over $100 million, into Coinbase Institutional wallets suggest significant whale activity and institutional interest in SHIB.
Developments like Shibarium and emerging DeFi applications within the Shiba Inu ecosystem are adding real-world utility and differentiating SHIB from other meme coins.
Despite positive adoption signals, a notable drop in SHIB's daily token burn rate and mixed price trends, with SHIB trading mostly sideways, raise concerns about maintaining deflationary pressure.