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Shiba Inu’s holder base expanded rapidly over a short period, reflecting renewed network engagement and market attention. The spike in new wallets coincided with increased on-chain movement and technical developments, while activity on the Shibarium Layer 2 network contributed to the shift in sentiment. Market participants are now focused on whether the growth can sustain price momentum.
SHIB holder addresses on Ethereum rose sharply between April 19 and April 22. More than 10,000 new wallets joined, pushing the total above 1.573 million, according to Etherscan data.
April 21 recorded the largest single-day increase, with 4,958 new wallets entering the network. Over seven days, the cleanest net gain stood near 5,653 wallets. For context, the holder base crossed 1.55 million only in late March.
Price action supported the surge. SHIB climbed over 7% in the week leading up to April 22, and the token broke a multi-year descending triangle pattern on the daily chart. Retail wallets often respond quickly after such technical breakouts.
On-chain metrics also reinforced the trend. Around 505 billion SHIB moved off centralized exchanges over the past week, which analysts typically interpret as a shift toward self-custody. Lower exchange balances can tighten available supply over time.
Long-term holder data showed steady growth as well, with the segment expanding roughly 78% over the past year—suggesting stronger conviction among existing participants.
Shibarium activity added momentum to the broader narrative. The Layer 2 network crossed 1 billion total transactions after months of tracking the milestone. Each transaction contributes to burn mechanisms tied to network usage.
The Shibtoken team also outlined a Q2 2026 privacy upgrade, planned to use Fully Homomorphic Encryption in collaboration with Zama. The integration aims to enable encrypted transactions and data processing on Shibarium, targeting privacy-focused DeFi and gaming applications.
At the time of writing, SHIB was trading near $0.000006137, up by 0.47%. Its market cap stood around $3.62 billion. Meanwhile, 24-hour trading volume reached about $91 million, down 13.5% from the previous day. Weekly performance remained nearly flat at negative 0.3% after earlier highs near $0.0000064.
The LEASH v2 migration continued in phases following a completed security audit. Additional roadmap items include Layer 3 expansion and AI-related tools.
Traders are continuing to monitor Etherscan holder data alongside Shibarium transaction trends, with price direction expected to depend on how SHIB handles its ongoing breakout retest.
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