Lucie, the pseudonymous social media marketing lead for the Shiba Inu (SHIB) team, recently celebrated a significant milestone for the cryptocurrency, highlighting its mention in a report by prominent fund management firm Grayscale. The report noted that SHIB has outperformed not only its rivals, Dogecoin (DOGE) and Cardano (ADA), but also major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) in terms of weekly gains.
In a tweet sharing Grayscale’s report, Lucie remarked that SHIB was “leading the pack” and emphasized that this achievement is “NOT EVEN THE BEGINNING.” The report, titled “1 Week Returns for Top 10 Crypto Assets,” showed that SHIB’s gains reached an impressive 32.1%, far surpassing other notable cryptocurrencies. ADA and DOGE followed with gains of 14.5% and 12.4%, respectively, while ETH and BTC reported lower increases of 6.7% and 3.4%.
The SHIB community reacted enthusiastically, celebrating the success of their beloved meme cryptocurrency.
SHIB’s Price Surge Linked to New Milestones
A key factor driving SHIB’s remarkable rise this week was the announcement that the total value locked (TVL) in its ecosystem hit a new all-time high of $3.64 million. This milestone came just a week after Shibarium’s strategic partner, K9 Finance, launched its Bonecrusher app, which introduced a liquid staking solution.
Since Thursday, SHIB has surged by an astonishing 42.51%, eliminating one zero from its price and rising from $0.00001501 to $0.00002139. However, following this peak, the price saw a slight correction, dropping nearly 9% to trade at approximately $0.00001951.
Lucie also commented on this historic TVL achievement, asserting that SHIB represents much more than just a fleeting trend. She highlighted the strong ecosystem being developed around SHIB, supported by dedicated developers.
Additionally, the recent price surge coincided with a dramatic increase in SHIB’s burn rate, which surged by 33,818% on Thursday, resulting in the incineration of 1,884,288,401 SHIB tokens.
Related Topics:
