Market data confirms that Shiba Inu (SHIB) has recorded one of the biggest surges this year, outperforming the market kings Bitcoin (BTC) and Ethereum (ETH) year-to-date.
Investors have primarily focused on Bitcoin amid the market uptrend due to its sustained rally and position as the largest crypto asset. Ethereum has also commanded considerable attention, with most other altcoins relegated to the background.
Bitcoin and Ethereum up 67% and 68% YTD
However, data shows Shiba Inu has actually performed much better than these two assets despite not receiving as much attention. Bitcoin has breached its previous all-time high, sailing into price discovery territory, as it breaks multiple resistance points above $70,000.
Nonetheless, despite recording new all-time high prices, Bitcoin has not been the best performer on the year-to-date timeframe. Notably, BTC began the year at a price of $42,283. The asset has surged to its current price of $70,696, marking a 67% increase this year.
Similarly, Ethereum, which began the year at $2,281, has recorded an impressive price performance, soaring above several resistance levels to trade at $3,844 as of press time. At this current price, ETH has slightly outperformed BTC this year, having increased by 68.5% year-to-date.
Shiba Inu Outperforms with 209% YTD Surge
Interestingly, Shiba Inu appears to have performed much better than both assets this year. SHIB changed hands at $0.00001036 at the start of this year, looking to solidify its position above the $0.00001 level. The asset now trades for $0.00003203, representing a massive 209% spike year-to-date.
This shows that, while Shiba Inu has not received as much accolades as Bitcoin or Ethereum for its price run, the crypto asset has performed better than both assets this year. Notably, Shiba Inu’s upsurge this year came up within a short timeframe from Feb. 26 to March 5.
The cryptocurrency initially surged to a 27-month high of $0.00004567, which marked a 340% YTD gain. However, SHIB has since collapsed from this high, correcting some of the gains of the previous uptrend. Despite the correction, the asset still sees bigger gains than Bitcoin.
One of the major reasons why Shiba Inu has not garnered as much spotlight for its performance is due to the fact that it is still 176% away from reclaiming its 2021 ATH, while Bitcoin has breached its previous bull peak and continued to create new highs.
Nonetheless, market analysts have cited this as a major reason to anticipate more substantial price surges, as it indicates that Shiba Inu still has more room for growth. As a result, price projections predicting rallies to the $0.01 territory have materialized.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
