The Shiba Inu ecosystem has witnessed a remarkable surge in the first quarter of 2024, with impressive price hikes for its tokens. According to Bitget, a cryptocurrency exchange, Shiba Inu (SHIB) has seen a staggering 190% increase in value. Not far behind, Doge Killer (LEASH) has experienced an 87% rise, while Bone ShibaSwap (BONE) has gained 25% in price.
These tokens have also witnessed a significant boost in trading volume, with a whopping 416% increase in the first quarter. The number of traders has also risen by 178%, indicating strong participation from the investment community.
The positive momentum of the SHIB tokens coincides with several notable developments in the wider crypto market. The approval of a Bitcoin ETF in the US has generated a bullish sentiment among various digital assets. Moreover, Shiba Inu’s collaboration with Zama, a pioneer in Fully Homomorphic Encryption technology, demonstrates its commitment to enhancing transaction security and privacy.
In addition, D3 Global, a prominent DNS domain provider, has announced its support for payments in SHIB and BONE on Shibarium, enabling users to pay directly from their Shibarium addresses without the need to bridge tokens to Ethereum.
The trading options for BONE holders have expanded with its listing for margin trading on Gate.io. Furthermore, the Shiba Inu ecosystem team conducted a substantial burn, eliminating over 13.4 billion SHIB tokens, 19.5K BONE tokens, and 28.7 LEASH tokens in four transactions.
While the last 24 hours have witnessed some volatility within the Shiba Inu ecosystem, with SHIB experiencing a modest increase of 2.12%, BONE seeing a decline of 2.48%, and LEASH a decrease of 1.8%, LEASH still maintains a significant value of $429.43, solidifying its position as a key player within the ecosystem.
Disclaimer: This article provides informational content and should not be considered as financial advice. The opinions expressed in this article are solely those of the author and do not reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, and The Crypto Basic cannot be held responsible for any financial losses incurred.
