Shiba Inu Surges as New Holders Pour In, But BoJ Decision Looms

SHIB has shown surprising strength despite recent pressure from the Federal Reserve and a weak price action over several weeks. The token reversed higher after the latest rate decision, with buyers pushing SHIB toward $0.000005029 as market attention returned.

The growth of new holders has added another bullish signal for traders, with nearly 6,000 new holders joining the network within two weeks, bringing the total holder count to over 1.691 million and potentially reaching 1.7 million soon.

Burn activity has also strengthened across the ecosystem, with a 715.92% increase in burns during the past 24 hours, including one transaction that removed more than 30 million SHIB tokens, reducing supply while highlighting renewed network participation.

However, key risks remain beneath the surface, including concentrated wallets and another major central bank decision by the Bank of Japan on September 17-18, which could challenge SHIB's momentum and trigger renewed selling pressure.