Shiba Inu's SHIB has outperformed both Bitcoin and Ethereum in the ongoing crypto market rally.
Since the beginning of the year, Bitcoin has increased an impressive 64%, reaching a new all-time high above $73,000. Similarly, Ethereum has recorded a significant growth, with a 73% increase year to date, approaching the $4,000 threshold.
However, Shiba Inu's SHIB token eclipses these gains. During the same period, SHIB price skyrocketed 246% to $0.00003599. Although the current value has dropped to $0.00002779, its notable increase reflects the huge interest surrounding the project this year.
A major factor contributing to the Shiba Inu's pricing success is the growing acceptance and use of Shibariums by the community. Shibarium is an Ethereum Layer 2 network launched by the meme coin's ecosystem last August.
Shibarium has gained traction despite initial challenges, boasting integration with major cryptocurrency platforms like Gate.io.
Data from ShibariumScan shows that the number of transactions on the network has surpassed 412 million, showing its resilience and competitiveness compared to other Layer 2 networks. This increase makes Shibarium assert an important position in the blockchain field.
Additionally, according to data from DeFillama, the total value of assets locked on the network recently surpassed the $2 million mark amid a market correction.
