Unpalatable crypto market conditions have not stopped the Shiba Inu (SHIB) ecosystem from recording major milestones.

This week, Shiba Inu crossed 1.5 million holders, as highlighted by the project's marketing lead, LUCIE. Specifically, the popular meme coin hit this milestone on Monday, March 18.

Unpalatable crypto market conditions have not stopped the Shiba Inu (SHIB) ecosystem from recording major milestones.

For one, Shiba Inu has now crossed a major on-chain holder milestone.

1.5M Shiba Inu Holders

This week, Shiba Inu crossed 1.5 million holders, as highlighted by the project’s marketing lead, LUCIE. Specifically, the popular meme coin hit this milestone on Monday, March 18. Meanwhile, the Shiba Inu ecosystem has welcomed 843 more holders to the tally as of the time of writing on Wednesday, March 19.

The milestone highlights the significant growth and continued interest in the token, which is typically seen as bullish. Meanwhile, recent feats are not limited to the SHIB token.

Shibarium Reaches 10M Blocks

While SHIB has surpassed 1.5 million holders, Shibarium, the meme coin’s Ethereum Layer 2 network, has surpassed 10 million blocks. At the time of writing, the network has recorded 10,010,974 blocks.

This is a testament to the network’s longevity and reliability, which could make it more attractive to new users. Already, the network has seen an explosion in total addresses in recent weeks, with the tally now sitting near 175 million.

This growth is important as the network plays a key role in burning SHIB tokens, a contributing price control mechanism, as investors hope that a diminishing supply matched with solid demand will send the meme coin soaring. Recently, The Crypto Basic reported that Shibarium had helped burn a total of 713 million SHIB.

The recent SHIB and Shibarium milestones are even more significant when considering the ongoing downturn in the crypto market.

For context, SHIB has tanked as much as 68% in the past four months, falling from a high of $0.00003343 in December 2024 to trade as low as $0.00001082 in March 2025.

At the same time, there is still concern that the meme coin has underperformed the competition. Specifically, SHIB only soared about 98% following the U.S. election, while Dogecoin surged over 200%.

Meanwhile, the latest statistics offer investors a glimmer of hope for SHIB investors.