Shiba Inu (SHIB) has struggled to gain steam over the last few months. The cryptocurrency has been on a downward trajectory since December 2024. However, Etherscan data suggests that the number of Shiba Inu (SHIB) holders has substantially increased over the last few days. According to the analysis platform, the number of SHIB holders went up by more than 10,000 between April 19 and April 22, 2026. Let’s discuss why the number of holders may have gone up in such a short period of time.

Why Did Shiba Inu’s Number Of Holders Increase?

Shiba Inu (SHIB) is a very popular cryptocurrency, especially among those who entered the crypto market during the 2021 bull run. SHIB climbed to an all-time high of $0.00008616 just over a year after its launch. However, the cryptocurrency has struggled to regain its 2021 momentum.

Shiba Inu’s (SHIB) latest upswing also reflects in a slight price reversal for the coin. According to CoinGecko data, SHIB’s price has rallied 0.2% in the last 24 hours, 0.5% in the last week, and 3.3% in the 14-day charts. However, the memecoin is still down by 0.4% in the monthly charts and nearly 59% since April 2025.

It was also recently reported that Shiba Inu (SHIB) is the most traded coin in India. The cryptocurrency has made quite a name for itself in the subcontinent, especially due to its incredible 2021 price rally.

Also Read: Is Shiba Inu (SHIB) A Good Buy For 2026?

The surge in Shiba Inu’s (SHIB) number of holders could be due to investors anticipating a market reversal after positive developments in a potential dal between the US and Iran. A cool off in the Middle East conflict could lead to increased investor sentiment. However, things are still unclear. Moreover, interest rates are unlikely to go down in April 2026, which could lead to Shiba Inu (SHIB) remaining on a sideways trajectory.