Kaal Dhairya, a top developer in the Shiba Inu ecosystem, suggests that SHIB is the number one ERC-20 token on the Ethereum blockchain.
According to Dhairya, Shiba Inu is the top-ranked ERC-20 token on Ethereum in terms of market capitalization. The developer excluded stablecoins like USDC and USDT, which are also ERC-20 tokens, due to their presence on multiple blockchains.
However, Dhairya contended that Shiba Inu has remained loyal to Ethereum since its launch, attracting significant value to the blockchain. The accompanying chart shows that Shiba Inu had a valuation of $10.39 billion.
🚨 FACT: If you exclude $USDC and $USDT, which are stable coins and are multi-chain, $SHIB stands as the #1 ERC20 token on the list! 🔥 loyal to Ethereum since day 1 and continues #SHIB #Ethereum #ERC20 https://t.co/4n4oKRjj2E pic.twitter.com/okfBSnNZuw
— Kaal (@kaaldhairya) November 2, 2024
Buterin Says Dogecoin Deserves to be Second Most Valuable Crypto
The Shiba Inu developer made the assertion over the weekend in reaction to a statement from Ethereum co-founder Vitalik Buterin.
Last week, Buterin said Dogecoin (DOGE), Shiba Inu’s major rival, deserves to be the second-biggest cryptocurrency after Bitcoin. This suggests that Buterin believes DOGE should rank ahead of ETH, the native coin of the Ethereum blockchain.
This comment triggered reactions among Shiba Inu community members, who took to X to air their comments. They believe Buterin should have spoken in favor of SHIB instead of DOGE due to Shiba Inu’s accomplishments on Ethereum. While Shiba Inu officially launched on Ethereum, Dogecoin made its debut using the Litecoin architecture.
Kusama Wants to Showcase SHIB Potential to Buterin
Amid the debate, Shiba Inu’s lead developer, Shytoshi Kusama, requested to showcase SHIB’s potential to Buterin in a 10-minute pitch.
Kusama hinted that the presentation will highlight Shiba Inu’s technologies, dedicated community, and decentralized governance system. The lead developer urged Shiba Inu enthusiasts to call Buterin’s attention to his request.
Shiba Inu is the Best-Performing Asset Globally
Expectedly, Shiba Inu community members complied with the directive, tagging and mentioning Buterin in different X posts. While urging Buterin to contact Kusama, famous community figure Digarch claimed that SHIB is the best-performing asset in the world.
This claim aligns with a similar view Kusama shared recently. As reported earlier, Kusama suggested that Shiba Inu is the best-performing asset globally over the last decade, outperforming other financial instruments like Bitcoin and Tesla stock.
On October 30, Kusama claimed that SHIB had registered a lifetime gain of 33,774,726%. According to Kusama, Shiba Inu outperformed Bitcoin’s growth by a whopping 6,600% (66x).
Shiba Inu has undoubtedly witnessed an incredible performance since its launch in August 2020. The token surged by over 153 million percent in 14 months, from August 1, 2020, to October 28, 2021. This saw SHIB’s price surge from an initial price of $0.000000000056 to an all-time high of $0.00008616.
SHIB is currently trading at $0.00001677, down 80.6% from its ATH. Despite the slump, the token is still up 29,946,328% in terms of lifetime gains.
