Shiba Inu ($SHIB ) continues its upward trajectory, trading at $0.00001413 as of Friday, buoyed by a broader cryptocurrency market recovery. The meme token, ranked as the second largest in its category with a $8.3 billion market cap, has risen over 2% in the past 24 hours, fueled by increasing adoption and favorable market conditions.

On-chain metrics highlight SHIB's growing network activity, with IntoTheBlock data revealing a record 1.4 million active addresses a new all-time high. This steady rise in wallet holders reflects expanding user adoption and sustained investor interest, reinforcing SHIB's position as a prominent player in the meme coin sector.

The token's performance aligns with the current bullish sentiment across crypto markets, as traders shift focus toward altcoins with strong fundamentals and community backing.