Source: Cryptorank
Shiba Inu has experienced significant growth in the past quarter, driven by the surge in Bitcoin's price. However, the month of April brought negative trends, with a 6.41% decline in the SHIB price. Looking at the quarterly performance of SHIB, the second quarter has historically been the least performing. While Q2 of 2021 saw a massive 628.9% growth, the following years saw significant drops in growth rates.
Moving forward, there are indications that the current quarter may be different for SHIB. The ecosystem has evolved with various growth catalysts, including the burn rate and the adoption of Shibarium, a layer-2 scaling solution. The burn rate has significantly reduced the supply of SHIB, with 15.6 billion coins burned in March alone. Additionally, Shibarium has achieved key milestones that have contributed to the overall growth of the Shiba Inu ecosystem.
