# Shiba Inu Wallet Count Hits Record High While Price Plummets SHIB holders increase but price performance disappoints investors. - **Source:** [CryptoPotato](https://brifing.si/source/bd22636b-ec8d-42a8-8cca-1937c50e0f6c) - **Published:** 2026-07-13 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/82a161ef-beb3-4e63-bbf0-a7c2f978b252 ## Record Ownership, Falling Price Shiba Inu wallet count reached a record 1.67 million, but the token price dropped 95% from its 2021 peak. A sudden addition of 75,000 wallets in early July raised questions—whether it was a technical glitch or genuine interest remains unclear. ## Market Cap Collapse SHIB's market cap fell below $2.5 billion, making it the 36th largest cryptocurrency. Daily trading volume dropped from $700 million to $50 million. While it remains the second-largest meme coin, this position is largely due to competitors losing even more value. ## Declining Shibarium Activity Transaction counts on Shibarium, Shiba Inu's layer-2 solution, have significantly decreased. After initially processing millions daily, it now handles only thousands. This decline raises concerns about the ecosystem's vitality and long-term sustainability. ## Burn Mechanism Slows Down The token burn mechanism, which saw a brief resurgence last week, has slowed again. Reduced burning activity fuels worries about uncontrolled supply. Community-driven burn initiatives have so far failed to make a substantial impact. ## Analysts Remain Pessimistic Industry analysts describe SHIB as 'old, dead, and boring,' with some predicting no recovery for 5-10 years. Speculations about a potential nostalgia-driven revival remain uncertain, leaving little hope for short-term investors. ## Future of Meme Coins SHIB's decline reflects broader challenges in the meme coin category. As markets shift away from speculative investments toward fundamentals, SHIB's path to recovery appears increasingly difficult without significant utility or adoption. ## Sources covering this story - https://cryptopotato.com/key-shiba-inu-metric-reaches-a-new-ath-yet-shibs-price-keeps-sliding-details/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._