- The Shiba Inu ecosystem experienced remarkable growth in Q1 2024, with SHIB, LEASH, and BONE tokens leading the surge.
- Trading volume and trader count for SHIB, LEASH, and BONE tokens soared, indicating increased investor participation and ecosystem expansion.
- Partnerships with Zama for enhanced security and D3 Global for streamlined payments bolster Shiba Inu’s utility and accessibility.
The first quarter of 2024 showcased a remarkable surge in the performance of the Shiba Inu ecosystem, led by SHIB, LEASH, and BONE tokens. Lucie SHIB, an investor and market lead at SHIB.IO, has reported on the impressive growth of SHIB and its companions during this period.
Subsequently, data from Bitget, a notable cryptocurrency exchange, highlights a substantial increase in value for SHIB, LEASH, and BONE tokens. SHIB, the flagship token, saw a significant 190% jump in value, closely followed by an 87% rise in LEASH and a notable 25% increase in BONE’s price.
Moreover, the trading volume for these cryptocurrencies skyrocketed by 416% in Q1, indicating active participation from the investment community. Additionally, the trader count witnessed a substantial growth of 178%, further solidifying the ecosystem’s expansion.
These positive trends coincided with significant developments in the broader crypto market. The approval of a Bitcoin ETF in the United States played a pivotal role, instilling bullish sentiment across various digital assets, including SHIB, LEASH, and BONE. Additionally, Shiba Inu’s collaboration with Zama, a pioneer in Fully Homomorphic Encryption technology, further established its commitment to enhancing transaction security and privacy.
Furthermore, another significant development involving D3 Global, a leading DNS domain provider affected the tokens. D3 Global’s announcement to support payments in SHIB and BONE on Shibarium eliminates the need to bridge tokens to Ethereum, streamlining the payment process for users.
Additionally, trading options for BONE expanded with its listing for margin trading on Gate.io. The Shiba Inu ecosystem team conducted a significant token burn, torching over 13.4 billion SHIB tokens, 19.5K BONE tokens, and 28.7 LEASH tokens in four transactions last month.
As of the latest update, SHIB is trading at $0.000026 with a 24-hour trading volume of $725,027,413. SHIB has a live market cap of $15,103,219,247, with a circulating supply of 589,289,410,812,691 coins. Concurrently, BONE is trading at $0.621453 with a 24-hour trading volume of $7,038,954 and LEASH at $403.88 with a 24-hour trading volume of $3,070,905.
