Shiba Inu Records Notable Gains, Outperforms Other Top Crypto Assets

New Shiba Inu Partner, Bad Idea AI Passes Smart Contract Security Audit

Shiba Inu (SHIB), a popular cryptocurrency with a canine theme, has maintained its outstanding weekly performance despite a decline in the market. This weekly performance has enabled it to overtake other leading cryptocurrencies including Ethereum (ETH), Dogecoin (DOGE), XRP Ledger (XRP), Cardano (ADA), Binance Coin (BNB), and Polygon (MATIC) as the market leader.

The token is up 6.3% over the last week, according to statistics from CoinGecko. In contrast, the value of ETH, XRP, ADA, and MATIC has decreased during the past week by 1.3%, 8.9%, 7.8%, and 6.3%, respectively. In contrast, DOGE and BNB have gained 0.1% and 2.3%, respectively, over the past seven days.

The canine-themed cryptocurrency accomplished the feat after showing gains for five days in a row. During Shiba Inu’s five-day consecutive surge, the asset increased by 32%.

Related Reading: US Politician Bullish About Shiba Inu, Emphasizes Its Distinctive Performance

Shiba Inu is Gradually Rising

Even if Shiba Inu had a stellar week, the cryptocurrency is down 0.43% on the 24-hour chart. SHIB’s daily decline, however, pales in comparison to the losses sustained by the canine-themed token during the SEC-caused meltdown that shook the cryptocurrency market earlier this month.

It’s important to remember that on June 10, Shiba Inu lost 13.07% of its value in a single day. Shiba Inu fell to a 21-month low of $0.00000543 as a result. Shiba Inu is slowly emerging from the ashes as of the time of publication, trading at $0.00000715. Interestingly, a number of Shiba Inu community members are certain that the asset will keep moving higher than $0.00000715 in a favorable direction.

Shiba Inu’s next targets, according to SHIB Knight’s prediction from June 18, were $0.00000725, $0.00000736, and $0.00000752. Shiba Inu has already surpassed all three of SHIB Knight’s goals before retreating to $0.00000716 under continued bear pressure.

Notably, a lot of investors are eagerly awaiting the quickest possible removal of another zero from the price of SHIB.

Shiba Inu Team on Track to Launch the Mainnet Version of Shibarium

Meanwhile, the Shiba Inu team is still on schedule to release the mainnet version of Shibarium, the cryptocurrency’s layer-2 scaling solution. As previously reported, Shiba Inu’s Marketing team member Lucie said that the team had successfully reset and upgraded Puppyscan, the Shibarium Beta- Puppynet block explorer.

According to the explorer, 13.35 million wallets are linked to Puppynet. Puppynet has a total transaction count of 20.11M and a total block count of 1.35M. However, There has been no official word on when the Shibarium mainnet version will be available.

Read Also: Shiba Inu Bounces Back: 37% Recovery Raises Bullish Prospects for SHIB

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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