Gushiken Yona
Shiba Inu shattered expectations, clinching a spot among this year’s crypto elite by outperforming market titans Bitcoin and Ethereum. Demonstrating its tenacity, SHIB bounced back with a double-digit surge in value overnight after a spell of downturns, showcasing its robust market resilience.
Bitcoin has been dominating headlines this year, boasting an impressive 64% surge and smashing through a record-breaking new all-time high price of $73,000. This remarkable performance of the world’s pioneering cryptocurrency is primarily attributed to the debut of official spot Bitcoin exchange-traded funds (ETFs) in the U.S., triggering an unparalleled surge in demand.
Following suit, Ethereum, the second-largest asset by market cap globally, flexed its muscles in the market, boasting an impressive 73% surge as it neared the coveted $4,000 price mark. Ethereum’s monumental rise is widely attributed to speculation surrounding the potential approval of spot ETH exchange-traded funds (ETFs) and the recent DenCun upgrade, which has significantly bolstered layer-2 solutions.
Shiba Inu, often dubbed the underdog of the cryptocurrency realm due to its meme coin status, defied expectations by outshining the gains of Bitcoin and Ethereum. Surging an astonishing 246% when its price reached $0.00003599. Though SHIB’s value later retraced to $0.00002779, the altcoin demonstrated remarkable resilience and sparked immense interest in the project with its impressive surge.
The beloved crypto asset of the Shiba ecosystem experienced an impressive 26% surge in the last 24 hours. However, what’s truly remarkable is its year-on-year performance, where it outshone both BTC and ETH.
Bitcoin boasted a solid 146.75% surge in value over the past year, while Ethereum saw a respectable 97.45% increase during the same period. In comparison, SHIB skyrocketed by an impressive 185% over the past year, showcasing its outstanding growth trajectory.
As of 4:23 a.m. ET on Monday, Bitcoin was trading at $68,013.77, accompanied by a robust 24-hour trading volume of $41,341,378,264. BTC has observed a 3.76% increase in the last 24 hours, a slight 4.93% dip over the past seven days, and an impressive 31.43% surge in the last 30 days. Maintaining its position as the top cryptocurrency in CoinMarketCap’s ranking, Bitcoin boasts a formidable market cap of $1,336,972,527,322, supported by a circulating supply of 19,657,381 BTC.
Around the same time, Ethereum was trading at $3,616.02, accompanied by a 24-hour trading volume of $17,779,661,119. ETH has observed a 3.95% increase in the last 24 hours, a 10.27% decrease over the past seven days, and a notable 28.37% rise in the last 30 days. Holding strong as the second-ranked cryptocurrency on CoinMarketCap, Ethereum boasts a market cap of $434,208,022,079, supported by a circulating supply of 120,078,892 ETH.
As of the same time frame, Shiba Inu was trading at $0.000029, accompanied by a robust 24-hour trading volume of $2,469,762,333. SHIB has witnessed a notable 14.60% increase in the last 24 hours, a 19.29% decrease over the past seven days, and an impressive 185.50% surge in the last 30 days. Holding steady in the 11th position on CoinMarketCap’s ranking, SHIB boasts a market cap of $16,795,363,280, supported by a circulating supply of 589,289,410,812,691 SHIB.
Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
