According to a recent tweet by Etherscan SHIB, an X account that provides SHIB stats and real-time insights, Shiba Inu continues to see holder growth, with over 3,000 new addresses added in the month of June.
Shiba Inu added 3,464 new holders so far in June, according to the X handle, bringing its total holder count closer to the 1.6 million mark.
The latest on-chain data reveals that Shiba Inu now has 1,590,266 total holders, representing a steady increase in the community base. The increase of 3,464 holders to date in June shows that new participants are still joining the Shiba Inu ecosystem despite the current market uncertainty.
June was mostly bearish for Shiba Inu, with its price dropping near the $0.000004 range. On June 6, Shiba Inu fell to a price low of $0.00000433. A subsequent rebound saw Shiba Inu reach $0.0000052, but the rally was sold into, with Shiba Inu falling subsequently.
SHIB price action
The broader crypto market is seeing a rebound early Saturday after an earlier drop during the week.
Crypto fell across the board on Friday in holiday-thinned trade, following earlier losses as investors weighed developments during the week, including the first FOMC (Federal Open Market Committee) meeting under new Fed Chair Kevin Warsh.
The market dropped in the wake of Wednesday's hawkish Fed meeting, with leveraged bets, which were mostly longs, liquidated in the process. The market fell further on Thursday after the release of the latest U.S. economic data.
Initial jobless claims for the week ended June 13 came in just above expectations at 226,000. This marked a 4,000 increase from the previous week and above the 225,000 economists polled by Dow Jones were expecting.
Shiba Inu fell for four straight days following the market dip. At the time of writing, SHIB was up 0.6% in the last 24 hours to $0.000004737 but down 5% weekly.
The broader concern for the market is where this cycle goes, and whether altcoins that typically climb late in a bull run will get their time at all.
