Crypto: Shiba Inu surpasses Ethereum over 12 months

Seeing a meme coin surpass the world’s second-largest cryptocurrency over a one-year period is as rare as it is eloquent. Shiba Inu (SHIB), long considered a mere amusing offshoot of the token universe, recently defied predictions by posting annual growth surpassing that of Ethereum (ETH). This success, though modest, embodies the profound and sometimes unexpected changes shaking up the crypto ecosystem.

Shiba Inu Dethrones Ethereum

Shiba Inu (SHIB), a token classified as a memecoin, has outperformed Ethereum (ETH) in terms of annual performance. According to data published by Coincodex, SHIB recorded growth of 44.17% over the past twelve months, compared to 44.06% for Ethereum. This difference, though slight, is significant in a market where every fraction of a percent can have major repercussions.

SHIB’s success isn’t just explained by speculation or enthusiasm around memecoins. It is anchored in a series of strategic initiatives implemented by the Shiba Inu team, who have skillfully capitalized on market volatility to advance their project. The year 2024 was notably marked by the launch of Shibarium, a Layer-2 network that has already processed over 6 million blocks.

The Technological and Strategic Ambitions of the Project

Beyond its market performance, Shiba Inu stands out with technological developments aimed at strengthening its position in the crypto ecosystem. The team behind SHIB doesn’t just capitalize on past success; they are engaged in bold initiatives that could transform the very nature of the project. The recent announcement of the creation of a Layer-3 network, which will leverage fully homomorphic encryption (FHE) to ensure transaction privacy, illustrates this ambition. By pushing the current technological boundaries, this project aims to meet a growing demand for more secure and private solutions in an increasingly surveilled universe.

Meanwhile, the evolution of Shibarium continues to reinforce the Shiba Inu ecosystem, with the introduction yesterday of an integrated token burn mechanism. This approach, which aims to reduce the circulating supply, could potentially influence the value of SHIB in the long term by adding a deflationary aspect to an already popular token. These combined strategies demonstrate a long-term vision that could solidify Shiba Inu’s position among the most innovative and resilient crypto projects.