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Popular dog-themed coin Shiba Inu (CRYPTO: SHIB) turned 4 on Thursday, marking an exciting journey of ebbs and flows since its launch in 2020.
What Happened: Lucie, the marketing specialist of the Shiba Inu ecosystem, congratulated the community on the fourth anniversary, detailing various achievements of the project.
One of the highlights is the memecoin’s exponential growth since launch, amounting to a staggering 150,000,000%.
The coin soared to an all-time high of $0.00006916 within 15 months of its launch, after which it contracted thanks to an extended bear market.
In comparison, Dogecoin (CRYPTO: DOGE), which was the first and currently the biggest meme coin by market cap, has grown by 3565% in the same period.
See Also: Bitcoin A CIA Creation? Tucker Carlson Believes So: ‘They Got There First. It’s Honey Trap’
Why It Matters: SHIB's exponential gains reflect its growing prominence not just in the memecoin space, but in the broader cryptocurrency market.
The cryptocurrency project, which initially started as a meme coin inspired by the frenzy around Dogecoin, has expanded significantly to encompass decentralized exchanges and Layer-2 blockchains.
The pseudonymous lead developer, Shytoshi Kusama, has steered the ecosystem since the abrupt exit of Shiba Inu’s pseudonymous founder, Ryoshi in 2022.
Shytoshi Kusama has worked on expanding Shiba Inu above its memecoin origins, playing a vital role in the development and launch of the ecosystem’s first Layer-2 network, Shibarium.
Price Action: At the time of writing, SHIB was trading at $0.00001542, down 3.24% according to data from Benzinga Pro. The meme coin has gained nearly 50% year-to-date.
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Photo courtesy: Shutterstock
