Gushiken Yona
The Shiba Ecosystem, encompassing assets like its native token Shiba Inu (SHIB), the Shibarium gas fee token Bone ShibaSwap (BONE), Doge Killer LEASH, and the NFT venture Sheboshis (SHEB), has experienced a remarkable surge in value following a post-halving spike, with bullish sentiment sweeping through the market.
This rally highlights the increasing relevance and potential of Shiba Inu in the cryptocurrency arena, marking an important milestone for the meme-inspired cryptocurrency.
The Shib Army celebrated vigorously as Shiba Inu recorded a significant year-to-date increase of 151.53% in its latest rally, positioning it just below Dogecoin in CoinMarketCap’s list of Top Meme Tokens by Market Capitalization, as of 3 p.m. ET on Sunday.
Impressive Rally
Over the past week, Bone, originally the governance token for Shiba Inu’s decentralized exchange ShibaSwap and later designated as Shibarium’s official gas token, saw an impressive 21.59% price jump.
Meanwhile, Doge Killer LEASH, part of the ecosystem’s prominent trio, initially released as a rebase token with a limited supply of 100,000 tokens and was adapted to support the broader ecosystem much like its counterparts, experienced a significant rise over the same period. Often referred to as Shiba Inu’s VIP, LEASH saw over an 9% increase in its value.
SHEboshis, introduced as an ERC-404 token and digital collectible, also quickly captured the attention of the crypto and NFT community, surging an astonishing 357.42% in a span of 30 days. This explosive growth, tracked by CoinMarketCap as of 3:29 p.m. ET on Sunday, highlighted the rapid ascension and growing popularity of SHEboshis in the crypto and NFT space.
Shib Army Spotlight
An OG Shib Army who uses the X (formerly Twitter) handle @Sand_ShibArmy was one of the many community members who shared a screenshot of his portfolio, as a way of celebrating the impressive performance of the crypto assets of the Shiba Inu community, along with Shib.io marketing lead Lucie.
Since joining the Shib Army in 2021, Sand has approached investing with caution. Before placing any funds into Shiba Inu, he had meticulously researched the entire ecosystem. He now acknowledges the developers’ dedication and sacrifice. “I’ve always felt confident in their work,” he told The Shib Daily.
“I began investing in SHIB in May 2021. Yet, during the bear market, I turned bullish, particularly interested in accumulating Bone. In 2022, I ventured into the world of Decentralized Finance (DeFi), including purchases of LEASH, and deepened my investment last year,” Sand reflected on his investment journey within the Shiba Ecosystem.
Sand, who exclusively invested in the SHIB, BONE, and LEASH, noted, “These are the only assets I’ve firmly held onto! Whenever I trade other assets outside this ecosystem, I invariably end up exchanging them for SHIB, BONE, or LEASH.” As one of the community’s early members, Sand expressed his fondness for the Shib Army, which has embraced him warmly, leading him to view it as his true family.
Having weathered the volatility of the crypto market, Sand remained optimistic and offered an encouraging message for the Shib Army in 2024: “Let’s learn from the past and move forward. We endured the tough times of 2022 and 2023, staying united and marching onward. Let’s continue on this path toward a bright future. Shiba Inu is more than just a meme coin; it’s a movement!”
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Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
