This summary text is fully AI-generated and may therefore contain errors or be incomplete.
The Shiba Inu network has experienced a significant surge in transaction volume, reaching nearly 500% within a span of two days. This milestone has generated positive sentiment among traders and investors. According to data from InTheBlock, network activities on the Shiba Inu blockchain have seen a notable increase. Transactions on the network have skyrocketed by 498% in the past 48 hours, primarily driven by whale transactions. The transaction volume has been steadily increasing since November, with daily transactions now reaching $51.71 million. Despite the recent bearish trend in the market, Shiba Inu has still shown remarkable growth. The number of non-zero addresses holding Shiba Inu tokens has surpassed one million, indicating a significant increase in wallets holding the cryptocurrency. This growth can be attributed to the recent price rally and the market cap exceeding $40 billion. While the current market position remains uncertain, the surge in network activity and the increase in non-zero addresses reflect the healthy fundamentals of Shiba Inu.