Shiba

Ethereum

Shiba Inu

<p><a href="https://bitcoinist.com/ethereum-scalability-leap-vitalik-buterin-solution/">Ethereum’s co-founder Vitalik Buterin</a> recently heaped some praise on the <a href="https://bitcoinist.com/shiba-inu-latest-developments-2/">Shiba Inu (SHIB)</a> network following a <a href="https://bitcoinist.com/shiba-inu-transactions-spree/">transaction</a> that he performed involving the meme coin. His statement immediately impacted SHIB’s price, with the crypto token recording some gains in the last 24 hours.&nbsp;</p> 
<h2 id="shiba-inu-performs-beyond-expectations">Shiba Inu Performs Beyond Expectations</h2> 
<p>Vitalik mentioned in an X (formerly Twitter) <a href="https://x.com/VitalikButerin/status/1772761661264523563?s=20" rel="nofollow" target="_blank">post</a> that “SHIB massively outperformed” his expectations. He made this statement while revealing that he had donated SHIB to the <a href="https://bitcoinist.com/ai-changes-needed-to-save-humanity/">Future of Life Institute (FLI)</a>. The Ethereum co-founder suggested that he had made this donation long beforehand in fear that the transaction would take a while before being processed.&nbsp;</p> 
<p>However, that was not the case, as indicated by Vitalik’s praise for Shiba Inu, which means the transaction was processed faster than he expected. Meanwhile, in his tweet, Vitalik alluded to a “crypto relief” situation, and it is worth mentioning that this isn’t the first time that the Ethereum co-founder has made a donation with the meme coin.</p> 
<p>In May 2021, Vitalik <a href="https://bitcoinist.com/heres-how-ethereum-founders-1-billion-shiba-inu-covid-aid-donation-is-being-spent/">donated over $1 billion</a> worth of crypto (which included 50 trillion SHIB tokens) to the <a href="https://bitcoinist.com/ethereums-vitalik-buterin-donates-600k-for-india-covid-relief-campaign/">crypto campaign relief</a>. That was an Indian COVID relief fund kickstarted by Polygon’s co-founder Sandeep Nailwal to help out with the high number of COVID-19 cases the country was experiencing.&nbsp;</p> 
<p>Meanwhile, the SHIB tokens that Vitalik donated were <a href="https://bitcoinist.com/heres-how-ethereum-founders-1-billion-shiba-inu-covid-aid-donation-is-being-spent/">reportedly</a> part of the 500 trillion SHIB he had received from the creator of the meme coin. Interestingly, Vitalik <a href="https://bitcoinist.com/ethereum-founder-burns-billions-worth-of-coins/">burned approximately 420 trillion</a> worth of SHIB coins (almost half of the token’s circulating supply as of then). He explained then that he did this to support the meme coin.&nbsp;</p> 
<h2 id="evidence-of-shiba-inu-s-growth">Evidence Of Shiba Inu’s Growth</h2> 
<p>Vitalik’s recent statement about Shiba Inu also exemplifies how the ecosystem has grown since the meme coin <a href="https://bitcoinist.com/shiba-inu-shib-name-service-launch/">was launched</a> in 2020. SHIB has progressed from being just a meme coin, which was probably just <a href="https://bitcoinist.com/dogecoin-10-largest-meme-coin/">created for fun</a>, to becoming a crypto token that provides real-life utility. Its utility has also become more profound with the launch of the <a href="https://bitcoinist.com/shiba-inu-shibarium-public/">layer-2 network Shibarium</a>.</p> 
<p>Shibarium was designed to help improve the <a href="https://bitcoinist.com/shiba-inu-latest-shib-magazine/">Shiba Inu ecosystem</a> by improving transaction speed and lowering gas fees. Therefore, it is not surprising that Vitalik is getting a better feel of Shiba Inu than when he made a transaction with the meme coin in 2021. His statement is a testament to this fact and could serve as a much-needed endorsement going forward.</p> 
<p>At the time of writing, SHIB is trading at around $0.00003055, up over 3% in the last 24 hours according to <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="nofollow noopener" target="_blank">data</a> from CoinMarketCap.&nbsp;</p> 
<p><img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/uqjq5xiQ/" alt="Shiba Inu price chart from Tradingview.com" width="3286" height="1530"></p>

Ethereum Founder Vitalik Buterin Praises Shiba Inu Over Its Performance

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