Shiba Inu Nears 1.7 Million Holders as Meme Token Interest Continues to Grow

Shiba Inu's holder base continues to grow despite its struggling price. The token added nearly 9,000 new wallets in September, bringing the total unique addresses to 1,693,365 as of September 27. This growth puts Shiba Inu within striking distance of a major adoption milestone: 1.7 million holders.

The data comes from Etherscan, which shows that Shiba Inu added 1,235 new holders in the last 24 hours alone. To reach 1.7 million, the token needs to add just 6,635 more wallets. At September's average pace of about 330 wallets per day, this would take around three weeks.

The price gap between Shiba Inu and its all-time high is still wide, with a current market value of $3.3 billion and a price of approximately $0.00000565. This represents a decline of over 93% from its peak in October 2021. Despite this, the token's holder base has grown by roughly 69% since passing one million holders.

The growth of Shiba Inu's investor base arrives amid a broader wave of interest in meme tokens, where viral momentum can translate into outsized trading volumes within days. Dogecoin, the largest meme token, carries a market value of about $14.6 billion and counted roughly 8.3 million addresses in March.