Defying Odds: SHIB Surpasses Bitcoin And Ethereum With Stellar Year-On-Year Growth; Surges Double-Digit Overnight

March 18, 2024

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.

Leave a Reply

Your email address will not be published.