The Shiba Inu ecosystem has undergone tremendous growth following the rise of the meme coin sector and the introduction of Shibarium. Shibarium, a Layer 2 blockchain solution, was designed to enhance scalability and efficiency for Shiba Inu-related transactions, bolstering the ecosystem’s growth and sustainability.
The primary tokens within the Shiba Inu ecosystem, such as Bone ShibaSwap (BONE), Doge Killer (LEASH), and the primary token Shiba Inu (SHIB), have showcased resilience and growth amid the broad market surge in Q1. SHIB and LEASH have recorded a year-to-date increase of 130% and 30%, respectively, while BONE sees a decline of 10%.
Shiba Inu (SHIB)
Shiba Inu, the self-proclaiming Dogecoin Killer and the second largest memecoin in terms of market capitalization, has been exceptional recently, surging above the $0.0000300 key mark in March. However, despite the pullback toward the $0.0000200 region, SHIB remains bullish following the rise in popularity of the meme coin sector.
As of press time, SHIB is trading at $0.00002400, an increase of 0.70% from yesterday’s close. Despite the wide market volatility, SHIB has been outstanding, displaying a surge of 7% and 5% on the weekly and monthly charts. SHIB’s market capitalization stands over $14 billion, with a trading volume of $390 million.
Doge Killer (LEASH)
Doge Killer, a token held by Shiba VIP, gives the holders benefits and perks such as enhanced BONE rewards and access to Shiboshi NTF minting. LEASH has been trading on a descending pattern since touching the $900 mark in March. Currently, LEASH is consolidating around the $400 level.
As of the latest data, LEASH is exhibiting a bearish outlook, with the price declining by 1% to $398 on the daily chart. However, LEASH remains bullish on the weekly chart, surging by almost 4% with resistances noted at the $410 and 425 regions. The market capitalization and the trading volume stand at $42 million and $1.2 million, respectively.
Bone ShibaSwap (BONE)
Bone ShibaSwap, the governance token for the Shiba ecosystem, is used as the gas token for Shibarium transactions. BONE’s price has undergone fluctuations recently since failing to hold above the $1 key level. The correction has seen BONE revisit the $0.5 level, whereby the support has been strong.
Currently, BONE is trading at $0.6040, recording a decline of over 1% in the past 24 hours amid the weekly surge of 5%. BONE has faced a stiff rejection at the $0.6300 mark, whereby a break above this point could pave the way for further gains toward $1. BONE’s market capitalization and trading volume stand at $138 million and $5.4 million, respectively.
