Crypto: Shiba Inu Surpasses Ethereum Over 12 Months

Seeing a meme coin surpass the world’s second-largest cryptocurrency over a one-year period remains as rare as it is eloquent. Shiba Inu (SHIB), long considered a mere amusing derivative in the token universe, recently defied the odds by posting an annual growth rate higher than Ethereum (ETH). This success, although modest, embodies the deep and sometimes unexpected changes shaking the crypto ecosystem.

Shiba Inu overcomes Ethereum

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

SHIB’s success is not solely attributable to speculation or enthusiasm around memecoins. It is anchored in a series of strategic initiatives implemented by the Shiba Inu team, which has been able to capitalize on market volatility to advance its project. The year 2024 was notably marked by the launch of Shibarium, a Layer-2 network which has already processed over 6 million blocks.

The project’s technological and strategic ambitions

Beyond its market performance, Shiba Inu stands out for its technological developments aimed at strengthening its position within the crypto ecosystem. The team behind SHIB is not content to capitalize on past success; they are engaging 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 Full Homomorphic Encryption (FHE) to ensure transaction confidentiality, illustrates this ambition. This project, by pushing current technological boundaries, aims to meet a growing demand for more secure and private solutions in an increasingly monitored universe.

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