Shiba Inu (SHIB), a cryptocurrency known for its dog-themed meme coin, has managed to outperform Ethereum (ETH) in terms of performance over the past year. Despite being the second-largest cryptocurrency, Ethereum has been slightly surpassed by SHIB in terms of percentage growth. According to data from Coincodex, SHIB has achieved a one-year percentage growth performance of 44.17%, while Ethereum sits at 44.06%. This milestone for SHIB comes amidst a broader market rally, with both SHIB and ETH recording gains of over 6% on a daily basis. 2024 has been an eventful year for Shiba Inu, with various developments surrounding the meme coin. The team has been actively working on strategies to onboard new users and maintain a bullish sentiment within the community. They have also unveiled plans to develop a Layer-3 network using Fully Homomorphic Encryption (FHE) for privacy and security purposes. Additionally, their Layer-2 blockchain, Shibarium, has reached a significant milestone of processing over 6 million blocks on the network. With these developments, the demand for the Shiba Inu ecosystem and its Layer-2 network has grown, reflecting in the price of SHIB. Currently, SHIB is trading at $0.00001417, experiencing a 6.5% increase in the past day, although the trading volume has slightly decreased by 0.4% to $301 million.
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Shiba Inu (SHIB) Outperforms Ethereum (ETH) in 12 Months
