In the first quarter of 2024, the Shiba Inu cryptocurrency ecosystem experienced notable fluctuations, characterized by both significant trading volume increases and varying price movements across its associated tokens. According to recent data from Bitget, the trading volume for Shiba Inu (SHIB) soared by 416%, with a 178% rise in the number of traders.
Shiba Inu (SHIB), the primary token of the ecosystem, saw its price adjust to $0.00002332, marking a 5.98% decrease in the last 24 hours and a 14.43% decline over the past week. Despite these declines, SHIB is up by 190% in the current quarter, leading gains in its sector. Currently, SHIB’s market cap stands at approximately $13.75 billion, reflecting its vast circulating supply of 590 trillion tokens.
The ecosystem also includes other tokens such as Bone ShibaSwap (BONE) and Doge Killer (LEASH), each with varying degrees of performance. BONE’s price is currently $0.5862, having decreased by 4.01% in the last 24 hours and 17.89% over the last seven days, with a market cap of around $146.54 million. LEASH, priced at $398.09, experienced a 5.22% drop in the last 24 hours and a 10.92% decrease over the past week, culminating in a market cap of $42.82 million.
When compared to the broader global cryptocurrency market, which is down by 6.10% over the past week, all three tokens are underperforming, particularly BONE with the sharpest decline. Conversely, within the Ethereum ecosystem, which saw an average increase of 12.70%, SHIB, BONE, and LEASH significantly lag behind their peers.
Looking forward, the SHIB.IO marketing lead, Lucie, highlighted the potential expansion of the Shiba Inu ecosystem. Planned developments include enhancements to the Shibarium protocol, which is expected to bolster various sectors such as SHIB and LEASH tokens, SHIBOSHIS NFTs, SHEB currency, SHIB The Metaverse, the ShibaSwap decentralized exchange, and the Shiba Eternity game.
