U.Today

The pseudonymous social media marketing lead of the SHIB team, known as Lucie, has celebrated another milestone for Shiba Inu. This time, it was featured in a weekly report by fund management giant Grayscale.

Grayscale Features SHIB as Top Winner

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

Lucie shared Grayscale's report on her X page, commenting, “SHIB leading the pack” and adding that this is “NOT EVEN THE BEGINNING.” The report, titled 1 Week Returns for Top 10 Crypto Assets, revealed that SHIB surpassed Cardano, Dogecoin, Solana, Ethereum, Binance Coin, Bitcoin, Toncoin, Tron, and XRP.

SHIB’s gains totaled 32.1%, with ADA and DOGE following at 14.5% and 12.4%, respectively. ETH showed a profit of 6.7%, while BTC demonstrated 3.4% gains.

The SHIB community reacted with excitement and pride regarding their favorite meme cryptocurrency.

SHIB Soars 42.51% with New ATH

One significant driver for SHIB’s massive increase this week was the announcement of Shiba Inu's total value locked (TVL) reaching a new all-time high of $3.64 million. This occurred just one week after Shibarium’s strategic partner K9 Finance launched its Bonecrusher app on Shibarium, introducing a solution for liquid staking.

Since Thursday, Shiba Inu skyrocketed by 42.51%, eliminating a zero from its price and rising from $0.00001501 to $0.00002139. However, it later fell by nearly 9%, currently trading at $0.00001951.

In a tweet, Lucie remarked on this historic peak in TVL, asserting that SHIB is more than “just your trend of the week.” She emphasized that this price surge is due to a “massive ecosystem in development, with consistent support from dedicated developers.”

This price rise also coincided with a significant increase in the burn rate that occurred on Thursday, which surged by 33,818%, resulting in a total of 1,884,288,401 SHIB burned.

This article was originally published on U.Today.