Shiba Inu (SHIB) Outperforms Ethereum (ETH) in 12 Months

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As a seasoned analyst with over two decades of experience observing the cryptocurrency market, I must admit that I am genuinely intrigued by the recent developments surrounding Shiba Inu (SHIB). The meme coin’s ability to consistently outperform Ethereum (ETH), even if only slightly, is a testament to its resilience and the strength of its community.

As a seasoned investor with over a decade of experience in the cryptocurrency market, I must admit that I was initially skeptical about Shiba Inu (SHIB) due to its meme coin status. However, after closely following its trajectory and witnessing its impressive growth, I can confidently say that SHIB has proven to be a surprise package in the crypto world. The recent achievement of outperforming Ethereum (ETH), the second-largest cryptocurrency, in terms of performance over the past 12 months is a testament to this fact. While ETH has been a staple in my portfolio for years, SHIB’s ability to expand beyond limitations and uncharted territories is truly remarkable. I believe that this meme coin has a lot of potential and could be a valuable addition to any crypto enthusiast’s investment strategy.

Analyzing SHIB and ETH‘s yearly performance

As a researcher reporting on the latest developments, I’m sharing an update that Lucie, our marketing executive at Shiba Inu, posted earlier today on social media platforms. This news comes during a broader market surge where SHIB and ETH have seen impressive gains of more than 6% within a single day.

In the past year, based on Coincodex data, both Shiba Inu (SHIB) and Ethereum (ETH) have shown strong performance. However, at this moment, Shiba Inu has a slight edge over Ethereum, with its one-year growth rate standing at approximately 44.17%, compared to Ethereum’s 44.06%.

So far, 2024 has been quite bustling for Shiba Inu as it’s seen a lot of happenings with the meme coin. The Shiba Inu team is proactively steering clear of past achievements, instead focusing on devising strategies to attract more users to their ecosystem and keep the positive momentum going within the community.

Just now, the Shiba Inu group shared their plans for creating a Layer-3 network. This network is designed to enhance privacy and security through the employment of Fully Homomorphic Encryption (FHE), an essential privacy resource for programmers.

Development in Shibarium

Additionally, Shibarium, the Layer-2 blockchain of Shiba Inu, has achieved a significant milestone by processing over 6 million blocks in its network. This network is also planning to incorporate a token burning mechanism directly within its core functionalities.

These advancements underscore the significant interest in the Layer-2 network and the wider Shiba Inu community, a fact clearly reflected in the current value of SHIB tokens. The team’s dedication has not been overlooked.

Currently, SHIB is being exchanged for approximately 0.00001417 USD, marking a 6.5% increase over the past 24 hours. Yet, it’s worth noting that the trading volume has dipped slightly by 0.4%, now standing at about 301 million dollars.

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2024-08-09 13:06