SHIB Smashes BTC, ETH, XRP by Weekly Profits in Grayscale’s Report

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

According to this report, SHIB greatly outpaced not only DOGE and ADA, but such giants as Bitcoin and Ethereum in terms of weekly gains.

Grayscale features SHIB as top winner

This report published by Grayscale in a recent tweet was shared by Lucie on her X page. She commented, saying “SHIB leading the pack” and added that this is “NOT EVEN THE BEGINNING.”

The reported is called “1 Week Returns for Top 10 Crypto Assets.” According to it, in terms of weekly profits, SHIB has surpassed Cardano, Dogecoin, Solana, Ethereum, Binance Coin, Bitcoin, as well as Toncoin, Tron, and XRP.

SHIB’s gains totaled 32.1% compared to those of the other large-cap coins on the list. ADA and DOGE come closest to SHIB with 14.5% and 12.4% weekly gains. ETH showed profits of 6.7%, while BTC demonstrated 3.4% gains.

$SHIB
NOT EVEN THE BEGINNING 🚀

📸 Grayscale Crypto Snapshot – Assets weekly snapshot of the top 10 #crypto assets by 1-week returns.

#1: $SHIB leading the pack! 🔥 https://t.co/q4YWQhjbdt

— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) September 28, 2024

The SHIB community responded with comments full of excitement and pride over their favorite meme cryptocurrency.

SHIB soars 42.51% in light of new ATH

One of the drivers that certainly contributed to SHIB’s massive increase this week was the announcement about Shiba Inu Total Value Locked (TVL) reaching a new all-time high – $3.64 million in just one week after Shibarium’s strategic partner K9 Finance launched its Bonecrusher app on Shibarium and introduced a solution for liquid staking.

Since Thursday, the second largest canine-themed cryptocurrency Shiba Inu has skyrocketed by a whopping 42.51%, burning one zero from its price and surging from $0.00001501 to the $0.00002139 level earlier today.

However, after that it was pushed down by almost 9% and currently SHIB is trading at $0.00001951.

In a tweet, Shiba Inu’s Lucie commented on this TVL historic peak, saying that SHIB is much more than “just your trend of the week.” She stated that this price surge took place because “behind Shib is a massive ecosystem in development, with consistent support from dedicated developers.”

That’s not just your trend of the week. Behind Shib is a massive ecosystem in development, with consistent support from dedicated developers. https://t.co/7ZeSgrY9V3

— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) September 27, 2024

This price surge also coincided with a massive burn rate increase that happened on Thursday when this metric soared by 33,818% with 1,884,288,401 SHIB scorched in total.

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