Shiba Inu Reaches 1.5 Million Holders Amid Crypto Recovery
1min read Shiba Inu, a prominent meme coin, has achieved a significant milestone as it continues to grow despite the bear market. The coin has reached a new all-time high in terms of holders, demonstrating its enduring influence in the cryptocurrency space. This growth is particularly notable given the recent recovery in the crypto market, which has spurred new activity and interest.
Shiba Inu's marketing lead, Lucie, announced on the X platform that the total number of Shiba Inu holders has surpassed 1.5 million. This milestone is a testament to the coin's growing popularity and the strength of its community. According to data from Etherscan, the total number of wallets holding Shiba Inu was 1,507,445 at the time of the announcement, with the number of transactions exceeding 15.5 million.
One of the key drivers of participation in the Shiba Inu community is the upcoming launch of Bury 2.0, a staking mechanism developed by the SHIB team. This platform allows community members and investors to stake the four native tokens of the Shiba Inu ecosystem: SHIB, TREAT, BONE, and LEASH. Lucie highlighted several advantages of Bury 2.0, including the ability for stakers to have real voting power in the ecosystem. When users stake their tokens, they receive veTokens, such as veSHIB, veTREAT, veBONE, and veLEASH, which grant them voting rights on various decisions, including funding and ecosystem development. The longer the tokens are staked, the more influence the staker's vote carries.
Another significant benefit of Bury 2.0 is the access it provides to decentralized finance (DeFi) features. Staked tokens are not merely held idle but are actively utilized in yield farming, liquidity pools, and other DeFi activities. This ensures that the staked assets are generating returns for the holders. Additionally, the rewards for staking in Bury 2.0 are dynamic and evolve over time, increasing the chances of receiving airdrops, giveaways, and loyalty bonuses the longer the tokens are staked.
Bury 2.0 also offers localized control, allowing each state to launch its own custom veTokens. This enables stakers to participate in decision-making processes and receive rewards specific to their state, while also creating their own rules and priorities. Lucie emphasized that Bury 2.0 transforms passive holders into active participants, fostering long-term commitment and building a stronger, smarter, and more involved community.
This milestone and the upcoming launch of Bury 2.0 indicate that Shiba Inu is not only weathering the bear market but also continuing to innovate and engage its community. The growing number of holders and the introduction of new staking mechanisms suggest that Shiba Inu remains a key player in the cryptocurrency landscape, with a dedicated community and a forward-thinking approach to decentralized finance.
