The Premier League leaders have won every one of their opening seven games in all competitions.
Writing for 'Sky Sports', Giggs said: "From 1-11 there's probably not been a better Liverpool team in the Premier League.
"When Raheem Sterling, Luis Suarez and Daniel Sturridge were on fire they were really impressive but probably overall it looks like a more balanced team now.
"You've got players who've been in the team a couple of years and you've got young players coming through with experience of Jordan Henderson and James Milner so it's a good blend in there.
"Liverpool haven't played well in some games but scraped results, which is actually quite scary because if you're able to do that, that's championship form, so not only the swash-buckling three or four goals, but digging out results is what you need to do to win it."