Shiba Inu Outperforms XRP, ETH, MATIC, and ADA

Shiba Inu records strong weekly performance ahead of ETH, ADA, and XRP.

Leading canine-themed cryptocurrency Shiba Inu (SHIB) has continued to record significant gains despite a downturn in the market.

Shiba Inu’s weekly performance has helped it to steal the spotlight ahead of other top crypto assets like Ethereum (ETH), Dogecoin (DOGE), XRP Ledger (XRP), Cardano (ADA), Binance Coin (BNB), Polygon (MATIC).

According to data from CoinGecko, Shiba Inu is up 6.3% over the past seven days. On the contrary, ETH, XRP, ADA, and MATIC are down 1.3%, 8.9%, 7.8%, and 6.3%, respectively, in the past week. Meanwhile, DOGE and BNB show seven-day gains of 0.1% and 2.3%, respectively.

The canine-themed cryptocurrency achieved the feat after posting gains for five consecutive days. Shiba Inu’s five-day consecutive rally saw the asset spike by 32% within this period.

Shiba Inu Down 0.9% In 24 Hours

Despite Shiba Inu’s outstanding weekly performance, the crypto asset is down 0.9% on the 24-hour chart. However, SHIB’s daily plunge is nothing compared to what the canine-themed token suffered during the SEC-induced collapse that rocked the crypto space earlier this month.

It is worth noting that Shiba Inu shredded 13.07% of its value in a single day on June 10. This saw Shiba Inu plunge to a 21-month low of $0.00000543.

Shiba Inu is gradually rising from the dust, as it currently trades at $0.00000716 in the hours leading up to press time. Interestingly, several Shiba Inu community members are confident that the asset will continue its bullish movement above $0.00000716.

On June 18, SHIB Knight speculated that Shiba Inu’s next targets were $0.00000725, $0.00000736, and $0.00000752. Shiba Inu has already smashed all three targets set by SHIB Knight before retracing to $0.00000716 amid persistent pressure from bears.

Notably, many investors cannot wait to see another zero eliminated from SHIB’s price in the shortest possible time.

Shibarium Beta Explorer Completes Major Upgrade

Meanwhile, the team behind Shiba Inu is still on track to launch the mainnet version of Shibarium, the cryptocurrency’s layer-2 scaling solution. As reported today, Shiba Inu’s Marketing team member Lucie disclosed that the team has successfully reset and updated Puppyscan, the block explorer of Shibarium Beta- Puppynet.

Data from the explorer shows that 13.35 million wallets have been connected to Puppynet. Puppynet’s total transaction count is 20.11M, with a total block of 1.35M.

There is still no official update on when the Shibarium mainnet version will be released.