Shiba Inu Holder Count Nears 1.7 Million Milestone

Shiba Inu's (SHIB) holder count has seen significant growth over the past two weeks, according to data from BSCN. The number of addresses holding SHIB increased by approximately 4,770 during this period, bringing the total closer to 1.7 million.

This development is being viewed as evidence of continued activity among the Shiba Inu community, with BSCN referring to its holders collectively as the 'SHIB army.' Holder counts are commonly used as an on-chain metric to track changes in the number of blockchain addresses associated with a token.

The growth comes at a time when interest in memecoins remains present despite changing market conditions. However, it is essential to note that holder counts do not necessarily indicate active users or unique individuals, and the measure does not provide information on the amount of SHIB each address holds.