Shiba Inu beats Ethereum in 12-month growth. The popular dog-themed meme coin, has reached a new milestone by slightly outperforming Ethereum (ETH), the second-largest cryptocurrency, over the past year. SHIB continues to push boundaries and grow in unexpected ways.
Shiba Inu beats Ethereum in 12-month gains
Lucie, the marketing executive for Shiba Inu, shared an update on social media platform X today, coinciding with a broader market rally. This rally saw both SHIB and Ethereum (ETH) gain over 6% in a single day. Over the past year, SHIB has outpaced Ethereum by a small margin.
According to Coincodex data, SHIB’s one-year growth is 44.17%, while Ethereum’s is 44.06%. The year 2024 has been particularly eventful for Shiba Inu, with many developments around the meme coin.
The Shiba Inu team isn’t resting on its past achievements. They’re working on new ways to attract users and keep the community’s positive energy alive. Recently, they announced plans to create a Layer-3 network. This new network aims to boost privacy and security by using Fully Homomorphic Encryption (FHE), a tool that helps developers protect data.
Shibarium’s growth fuels SHIB price rise
Shibarium, Shiba Inu’s Layer-2 blockchain, has reached an important milestone by processing over 6 million blocks. The network is also planning to add a token burn feature to its core operations. These updates show just how popular Shibarium and the Shiba Inu ecosystem are becoming. The increased interest is also reflected in SHIB’s rising price.
At the time of writing, Shiba Inu was trading at $0.00001399, up by 5.12% in the last 24-hours . The trading volume increased by over 4% to $306.79 million.
Moreover. Ethereum was trading at $2635, up by over 7% in the past day.
