Shiba Inu (SHIB) Performed Better Than Expected: Ethereum’s Vitalik Buterin
TL;DR
- The shiba inu defied initial skepticism among the top 15 cryptocurrencies, being particularly praised by Ethereum Co-Founder Vitalik Buterin.
- SHIB has been among the best-performing cryptocurrencies recently, surpassing the trading volumes of well-known digital assets such as ripple‘s XRP and Cardano‘s ADA.
The popular meme coin – Shiba Inu – is currently among the top 15 cryptocurrencies by market cap and is one of the most trending assets due to its large number of SHIB holders. But the token wasn’t this rock star in its early days.
Launched in August 2020, valuation in the first few months showed little sign of an impending increase. The first rise occurred in April-May 2021, when the market value of Shiba Inu rose to over $8 billion.
Co-Founder of Ethereum at the time – Vitalik Buterin – burnt He donated approximately 410 trillion SHIB and 50 trillion SHIB to India, which was fighting the Covid-19 epidemic at that time.
Russian-Canadian programmer, lately aforementioned he did this because he thought the price of the Shiba Inu would “drop 100-fold in a few days.” He also admitted that the meme coin “vastly” exceeded his expectations.
SHIB Price Outlook
Those who have been a part of the industry long enough are aware that the Shiba Inu’s rise did not stop in May 2021, but was followed by an even more significant bull run in October 2021. A new and major revival in the bear market began in February 2024.
SHIB has exploded over 200% in the past month and has been among the best-performing cryptocurrencies of the past few days. Like CryptoPotato reportedShiba Inu trading volume on a 24-hour scale as key metrics for its ecosystem soar exceeded Figures generated by Ripple‘s XRP and cardano‘s ADA.
Meanwhile, Buterin’s stash, destroyed three years ago, will now be worth almost $12.5 billion.
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