Shiba Inu price has failed to register significant gains in the last two months, which has caused a decline in the number of daily active addresses to a one-year low. This drop shows that the level of market interest in SHIB is waning. However, what would happen if the market sentiment shifts to positive and the number of daily active addresses reaches 1 million? Let’s find out.
Shiba Inu Price in Focus as Daily Usage Drops
Data from Santiment reveals a drastic drop in the number of daily Shiba Inu active addresses. At press time, the number of daily users stands at 3,220, a notable drop from the year-to-date high of 8,509.
Meanwhile, the number of active SHIB addresses reached a peak of 60,496 in May 2021. At the time, Ethereum founder Vitalik Buterin burned more than 400 trillion SHIB tokens sent to his wallet by the development team. This burn fuelled market interest in the meme coin.
SHIB Daily Active Addresses
Shortly after this spike in usage, Shiba Inu price reached an all-time high of $0.0000884. However, since then, SHIB has dropped by 84%, with SHIB active addresses dropping by nearly 20 times from the 2021 peak.
This data shows that Shiba Inu price tends to gain when the number of people using SHIB daily are many and drops when the usage declines.
How High Will SHIB Rally If 1M People Use SHIB Daily
If the number of daily active addresses reached one million, Shiba Inu price could record a parabolic price rally. This usage will signal massive market interest and network usage that will fuel a price recovery.
According to Grok3, a surge in the number of daily active addresses will mirror the 2021 hype, and fuel a rally past the critical resistance of $0.0001. It noted,
“If the price scales proportionally to the address increase from the 2021 peak (16.7x from 60,000), the price could theoretically approach ~$0.0002 (16.7 * $0.000012).”
This Shiba Inu price prediction is realistic as it would give SHIB a market capitalization of $117 billion if the supply remains at the current 589 trillion.
Meanwhile, DeepSeek noted that if the daily active addresses reach one million accompanied by mass adoption, Shiba Inu price could rally to $0.0001.
While these price targets are realistic, attaining one million daily active addresses is an unlikely scenario. For context, Bitcoin has around 415,000 daily active addresses, with a peak of 1.36 million recorded in 2021. Therefore, Shiba Inu would have to receive higher retail and institutional interest than BTC to get 1 million users daily.
Shiba Inu Technical Analysis
The Shiba Inu weekly price chart shows that Shiba Inu is entering a key demand zone that has previously preceded a strong bounce. If SHIB enters this zone again and sparks an uptrend, this top meme coin might move to the next resistance at $0.000019.
The next major levels to watch in SHIB are $0.000026 and $0.000032. If Shiba Inu breaks these levels, it will accelerate an upswing to new record highs. However, the RSI is at 38, which shows bearish trends are prevalent. Unless buyers return to the market, SHIB will continue stalling.
SHIB/USDT: 1-Week Chart
To sum up, a surge in the number of daily Shiba Inu active addresses to 1 million will fuel a parabolic rally for SHIB to as high as $0.0002. However, such a rise would require massive adoption from both retail and institutional traders.
The post Shiba Inu Price Potential: Here’s the Math If 1 Million People Use SHIB Daily appeared first on CoinGape.
