Shiba Inu Ecosystem Hits Two Major Milestones, Showing Continued Interest In the Token That Could Lead to a Bullish Scenario

The ecosystem of a popular meme coin has attained two major milestones, showing the continued interest in the token that could lead to a bullish scenario.

The ecosystem of a popular meme coin has attained two major milestones, showing the continued interest in the token that could lead to a bullish scenario.

According to Benzinga's analysis, analysts reported that Shiba Inu (CRYPTO: SHIB) recently reached 1.5 million holders while its Shibarium recorded 10 million blocks, an indicator that the SHIB ecosystem could attract new users.

1.5 Million SHIB Holders

Crypto analysts revealed that Shiba Inu successfully achieved a major milestone, offering a bright spot for the broader cryptocurrency market which has faced some challenges recently.

The project's marketing lead, LUCIE noted that the meme coin hit 1.5 million holders on March 18, reaching such a milestone is an important achievement for any crypto.

"Good morning!

As of today, March 18, 1988, SHIB has reached 1.5 million holders!

This is a huge milestone for any crypto, and it's a testament to the hard work and dedication of the entire SHIB community," Lucie said in a recent post.

As of writing, about 843 new holders have joined the Shiba Inu ecosystem, indicating that the token remained attractive to traders.

Analysts believe that Shiba Inu's milestone suggests continued interest in the meme coin, fueling the token's significant growth. It also showed a bullish outlook on the meme coin.

"Shiba Inu price is showing signs of bullish momentum as it trades above the 50-day Simple Moving Average. The MACD indicator is also in bullish territory, further indicating that the buyers are in control," said Benzinga's own analysis.

Market observers said that the milestone might signify the unwavering belief of its community in the token.

"Shiba Inu is also known for its strong community, which has been instrumental in the token's success. The community is passionate about Shiba Inu and is constantly promoting the token on social media and other channels," the analysts added.

10 Million Blocks For Shibarium

Meanwhile, Shiba Inu's Ethereum (CRYPTO: ETH) Layer 2 network, Shibarium has also surpassed 10 million blocks with an estimated 10,010,974 blocks as of press time.

Crypto analysts said that this achievement is proof of the network's longevity and reliability, adding that it could entice more new users.

"Shibarium has also been burning through SHIB tokens at a rapid pace. In total, Shibarium has burned 713,388,088 SHIB tokens, which is a significant amount of demand," the analysts explained.

Market observers noted that the network has experienced exponential growth in total addresses in the last few weeks as it now tallies almost 175 million.

Shibarium's growth is crucial in burning SHIB tokens and a major price control mechanism. Many investors are optimistic that diminishing supply and solid demand might send the token to surge.

Shibarium played an essential role in burning around 713 million SHIB.

Unmoved By The Crypto Downtrend

Many analysts say that milestones achieved by Shiba Inu and Shibarium offer a great deal of hope to investors, considering the ongoing downtrend in the cryptocurrency market.

For instance, Shiba Inu tanked by about 68% in the last four months, dipping from a high of $0.00003343 in December 2024 to a low of $0.00001082 in March 2025.

On the other hand, some analysts raised their concern about Shiba Inu underperforming the competition, noting that the token only increased by 98% following the US presidential election, while the Dogecoin (CRYPTO: DOGE) cryptocurrency soared by 200%.

Currently, Shiba Inu is traded at $0.00001288 per token, down by 0.2% in the past 24 hours with a total market cap of over $7.5 billion.

Featured image from Getty Images, chart from TradingView