SHIB Outperforms BTC, ETH, and XRP in Weekly Profits According to Grayscale’s Report

The pseudonymous social media marketing lead of the Shiba Inu (SHIB) team, known as Lucie, recently highlighted another significant achievement for the cryptocurrency. It gained attention from the prominent fund management firm Grayscale in their latest weekly report.

In the report, SHIB notably surpassed other cryptocurrencies, including Dogecoin (DOGE) and Cardano (ADA), along with notable assets in terms of weekly returns.

### Grayscale Names SHIB a Top Performer

Lucie shared the report on her social media platform, stating, “SHIB leading the pack,” and confidently mentioned that this is “NOT EVEN THE BEGINNING.” The report, titled “1 Week Returns for Top 10 Crypto Assets,” indicated that SHIB’s weekly performance outshined Ethereum, Bitcoin, Toncoin, Tron, and others.

SHIB recorded an impressive 32.1% gain over the week, with ADA and DOGE trailing behind at 14.5% and 12.4%, respectively. Ethereum posted a 6.7% increase, while Bitcoin managed only 3.4%.

The SHIB community expressed their excitement and pride in their favored meme cryptocurrency through various positive comments.

### SHIB Rises 42.51% Following New All-Time High

One of the factors contributing to SHIB’s remarkable surge was the announcement of a new all-time high in total value locked (TVL) for SHIB, reaching $3.64 million. This milestone came just a week after K9 Finance, a strategic partner of Shibarium, launched its Bonecrusher app, enhancing the opportunities for liquid staking.

Following Thursday’s announcement, SHIB soared by an astonishing 42.51%, eliminating a zero from its price and climbing from $0.00001501 to $0.00002139 earlier today. However, it later experienced a slight decline of nearly 9%, currently trading at $0.00001951.

In a tweet, Lucie highlighted the significance of the historic peak in TVL, emphasizing that SHIB is much more than a fleeting trend. She pointed out that this price increase reflects the ongoing development of a substantial ecosystem backed by committed developers.

This price jump coincided with an extraordinary increase in the burn rate, which surged by 33,818% on Thursday, resulting in the incineration of 1,884,288,401 SHIB tokens.