April 2025 marked a modest yet notable increase in Shiba Inu's market performance

This market-wide recovery added approximately $270 billion to the global crypto market capitalization, representing a 10.31% increase in April.

Shiba Inu (SHIB) saw a modest yet noteworthy increase in April 2025, with the asset gaining about 7% during the month.

While Bitcoin (BTC) led the broader cryptocurrency market to a substantial rally, adding approximately $270 billion to the global crypto market capitalization for a 10.31% increase, SHIB still managed to maintain upward momentum.

However, compared to some top assets, Shiba Inu’s gains were more limited. Nonetheless, the token’s rebound had a significant impact on investor portfolios, as evident in the substantial rise in millionaire wallets.

109 Million-Dollar Wallets Added In One Month

According to on-chain data from IntoTheBlock, Shiba Inu saw the number of addresses holding at least $1 million worth of SHIB rise substantially throughout April.

At the beginning of the month, 751 addresses fell into this category. However, by April 30, this number had grown to 860, indicating a net increase of 109 new millionaire wallets in a single month. This surge reflects either an appreciation in the value of previously held tokens, additional accumulation, or a combination of both.

This breakdown shows that 796 addresses held between $1 million and $10 million in SHIB, an increase of 107 addresses, and 64 wallets held more than $10 million, up from 62 at the start of the month.

Possible Drivers Behind The Growth

Two primary factors appear to have influenced the increase in SHIB millionaire addresses. One is the token’s 7% price increase, which likely elevated some existing holders’ tiers above the $1 million threshold.

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For example, with SHIB trading at $0.00001355 near the end of April, an investor with 73.8 billion tokens would see their holdings valued at approximately $1 million.

At the start of April, when the price was around $0.00001237, the same amount of SHIB would have been worth about $912,915, below the millionaire mark.

The second factor is likely increased accumulation during the month. On-chain data indicates that addresses holding between 10 billion and 100 trillion SHIB added roughly 210 billion tokens in April, bringing their collective total to 541.28 trillion SHIB.

Though modest in percentage terms, this accumulation trend suggests growing interest among mid- to large-scale investors during the rebound.

Implications For SHIB’s Investor Base

The rise in millionaire wallets suggests renewed investor confidence in Shiba Inu following its recovery.

While SHIB’s growth in April was outpaced by broader market movements, the consistent accumulation and increase in high-value holdings point to ongoing engagement with the asset.

These trends may serve as indicators of Shiba Inu’s future momentum and the strategic behavior of its wealthier investors.

: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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