Shiba Inu (SHIB) Active Addresses up 17%, Can It Drive Recovery?

What does surge of Shiba Inu (SHIB) active addresses mean for price recovery?

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Though the uptick shows a general positive surge in Shiba Inu's active addresses, the rate of onboarding new addresses is relatively slow. This implies that the majority of transactions recorded are powered by existing SHIB holders.This realization is important in charting the recovery of SHIB from its current low as well as its depressed price outlook for the year. Down by 35.31% over the past year, SHIB is underperforming its core rival, PEPE, with 1,800% growth year to date.

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