Shiba Inu (SHIB) Thrives with Exponential Growth Throughout the Years Even Through Bear Markets

As some crypto aficionados bought in during the drastic downswings, others have been in custody of the popular canine crypto for over a year

The second-largest meme coin asset Shiba Inu (SHIB) has thrived with exponential growth throughout the years even through bear markets. As some crypto aficionados bought in during the drastic downswings, others have been in custody of the popular canine crypto for over a year, sailing through the ups and downs of the crypto seas.

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Interestingly, this takes up the majority of holders, as 1.07 million SHIB holders on-chain have active balances of Shiba Inu coins (SHIB) for at least a year. Meanwhile, the number of crypto cruisers, or digital currency enthusiasts who are holding between one month to one year, has also spiked from 255K by the end of 2024 to 328K now.

SHIB has reached 1.5 million on-chain holders! 😍 pic.twitter.com/sKaAO57R6I

As the dog-styled crypto community celebrated their 1,500,000th member, it bears mentioning that only 37K are labelled as ‘traders’, meaning accounts with holdings of less than a month old, according to IntoTheBlock’s classification. The strong community-backed Shiba Inu (SHIB) coin stands out from other meme coins as less utilized for speculation, expecting to gain in the longer term.

Consistent Shiba Inu Burns Spark Mini Bounce

Collectively, Shiba Inu coin (SHIB) holders on-chain have nearly 35 trillion SHIB tokens between 59.21K addresses at the current price range between $0.000012 and $0.000013. The territory could be hazardous for the meme coin if $0.000014 is not reclaimed, as this resistance level holds the majority of Shiba Inu (SHIB) tokens and usually serves as a catalyst for bull races.

On top of that, the SHIB Army’s voluntary Shibarium on-chain burns contribute towards eliminating the over-minted supply, still remaining at 584,34T. While that’s a massive drop from the original circulating supply of 589.25T, the numbers are still quite high in comparison to competing TOP 20 altcoins. Last week, Shibarium burns set ablaze 713,128,264 Shiba Inu coins to accelerate the weekly SHIB burn rate by 10.02%, as volunteers send SHIB to null crypto addresses.

Shibarium Burn Update – March 18, 2025 🔥🔥 Total SHIB Burned: 713,128,264 SHIB +9.02% from last week SHIB burn is still rolling strong with no signs of slowing down! 🔥 We're burning through the outstanding SHIB supply at an impressive rate. Keep up the good work, Shibarium community!

The utter belief in Shiba Inu’s (SHIB) value beyond a meme coin is also evident in the recently growing Shibarium L2 network use. Shiba’s own blockchain just scorched past the 10,000,000th production block, still sporting a 5 second average block time, completing at least two million transactions on Shibarium’s network since March 16, 2025.

On The Flipside

Despite the community’s best efforts to burn down the outstanding SHIB supply, it is still rolling in at an impressive rate with no signs of slowing down yet.

The Shibarium L2 network use continues to rise at an astounding speed as it just passed the 10,000,000th production block.

What We Can Expect

At the current rate of Shibarium L2 network use, we can expect to see the network hit the 11,000,000th production block sometime in early April 2025. At the current rate of SHIB burns, we can expect to see the outstanding SHIB supply drop below 584,33T by mid March 2025.

See Also: Shiba Inu Price Prediction: Will SHIB Hit $1 In 2025?

Why This Matters

Blue-chip meme coin status on Ethereum and BNB chains has enabled Shiba Inu to work on their own ecosystem and grow a Shibarium community with a sense of belonging for tech & meme enthusiasts.

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