- Shiba Inu holder growth has nearly stalled, adding just 4,000 wallets in the past month.
- Trading volume sits at $148M, far below Dogecoin ($1B) and even Pepe ($348M).
- Without a bull run or bigger burn strategy, SHIB risks fading from relevance.
Shiba Inu (SHIB) just can’t seem to catch a break. The once-hyped memecoin has barely moved the needle when it comes to new investor entries this year. Back in January, SHIB counted around 1.5 million holders. Fast forward nine months to September, and that figure has barely budged—now sitting at 1.539 million wallets, according to Etherscan. That’s just a 0.002% growth over the past month, with only about 4,000 new addresses added since August.
It’s not exactly shocking. Shiba Inu has been on a slow bleed for most of 2025, with its price slipping nearly 43% year-to-date. Traders who once believed SHIB could mint millionaires are pulling back, especially as other altcoins have outperformed and delivered actual gains. The sluggish growth highlights just how little excitement remains in a token that once defined retail FOMO.
Trading Volume Collapse Deepens Concerns
The lack of new holders is matched by weak on-chain activity. Etherscan shows only about 5,500 SHIB transactions in the last 24 hours. Its trading volume has collapsed to $148 million—a sharp contrast to Dogecoin, which still clears more than $1 billion daily despite its own downturn. Even Pepe, another memecoin often dismissed as a joke, managed more than double SHIB’s activity with $348 million in volume.
This lack of liquidity is dragging the token deeper into stagnation. Without stronger trading flows, it’s hard to see how SHIB escapes the downward spiral. Once marketed as the “Dogecoin killer,” Shiba Inu now feels more like a ghost town on the charts.
A Fading Dream for Retail
For small investors, Shiba Inu was once a symbol of hope—a chance to turn tiny bets into life-changing wins. That narrative has unraveled. With no major catalysts on the horizon, the dream of breaking even feels further away for many holders. Unless something dramatic shifts, the project risks being remembered as just another passing craze.
The only realistic lifelines? A massive, market-wide bull run—or a significantly expanded burn mechanism that slashes SHIB’s enormous supply. Without either, the token may continue drifting into irrelevance, overshadowed by newer and flashier plays in the crypto space.
