SHIB’s Milestone Achievement in Grayscale Report

The pseudonymous social media marketing lead of the SHIB team, known as Lucie, celebrated Shiba Inu’s recent milestone: being featured in Grayscale’s weekly report.

SHIB’s Performance Compared to Major Cryptos

According to the report, SHIB significantly outperformed not only DOGE and ADA but also major cryptocurrencies like Bitcoin and Ethereum in terms of weekly gains.

Grayscale Features SHIB as Top Winner

In a recent tweet by Grayscale, which was shared by Lucie on her X page, she stated, “SHIB leading the pack” and emphasized that this is “NOT EVEN THE BEGINNING.”

The report, titled “1 Week Returns for Top 10 Crypto Assets,” indicated that SHIB’s total gains reached 32.1%, outperforming Cardano (14.5%), Dogecoin (12.4%), Ethereum (6.7%), and Bitcoin (3.4%).

The SHIB community expressed excitement and pride over their cryptocurrency’s impressive performance.

Significant Price Surge for SHIB

A contributing factor to SHIB’s remarkable increase this week was the announcement of a new all-time high (ATH) for total value locked (TVL), reaching $3.64 million shortly after K9 Finance’s Bonecrusher app launched on Shibarium.

This catapulted SHIB’s price by 42.51%, rising from $0.00001501 to $0.00002139. Although it dipped by nearly 9% afterward, SHIB is currently trading at $0.00001951.

In a tweet, Lucie remarked on the historic peak of TVL, asserting that SHIB represents more than just a fleeting trend, mentioning the expansive ecosystem and support from dedicated developers.

Additionally, a surge in burn rate was noted, skyrocketing by 33,818% on Thursday, resulting in 1,884,288,401 SHIB tokens burned in total.

Originally published on U.Today