Investors remain stable, 60% increase expected

Shiba Inu, the original meme token, is currently experiencing a sluggish price movement. The token has dropped to $0.00001767 but is showing a slight increase of 1% in the last 24 hours. SHIB is known for creating millionaires and the price surge in 2021 has been historic and has changed the fortunes of many investors.

However, the slow pace of SHIB price appreciation has had a significant impact on the number of SHIB millionaires. According to data from Into The Block, the number of addresses holding between $1 million and $10 million in SHIB has stabilized at 986. Of these, 909 addresses hold between $1 million and $10 million, while 77 hold more than $10 million in SHIB tokens.

In June, Shiba Inu hit new lows, resulting in a sharp drop in wallets holding one million SHIB. Previously, there were 1,319 millionaire addresses, but the current downturn has reduced that number by 333, leaving many former millionaires below that mark.

A glimmer of hope for the Shiba Inu community

Despite these setbacks, the SHIB ecosystem remains resilient and is bolstered by diverse product offerings and growth initiatives. Shiba Inu will soon launch a blockchain version of its game Shiba Eternity, which could help the token recover faster than expected. In addition, layer-2 solution Shibarium is attracting significant on-chain activity, with a 388% increase in transaction volume. This development indicates increased interest and engagement in SHIB, even amid declining metrics.

According to CoinCodex, Shiba Inu is expected to regain some of its lost value by July 2, with a projected increase of 60%. The forecast suggests that SHIB could reach $0.00002949, representing an increase of 65.73%.

The Shiba Inu ecosystem is also preparing to launch several new products, including ShibaHub, Shibaswap, and Layer 3 testnet. These new offerings aim to attract more users and stimulate growth within the community.

While the current market conditions are challenging for Shiba Inu and its investors, the upcoming developments and continued support from the community provide cause for hope. As the token attempts to regain its former glory, the resilience of its ecosystem and the loyalty of its holders will be crucial to surviving this period of uncertainty.