Shiba Inu (SHIB) Records Significant Gains Ahead of Top Crypto Asset

Despite the recent downturn present in the crypto market, the popular dog-inspired cryptocurrency Shiba Inu (SHIB) has exhibited significant gains in value, causing a buzz in the crypto space.

Shiba Inu has caught the attention of investors and enthusiasts as it stands out among other cryptocurrencies, drawing interest as people eagerly watch the market.

SHIB’s performance over the past week has made it stand out and gain attention, surpassing other popular cryptocurrencies like Ethereum, Dogecoin, XRP Ledger, Cardano, Binance Coin, and Polygon.

Shiba Inu Witnessed Strong Weekly Gains, Outperforms XRP, ETH, MATIC & ADA

In the past seven days, Shiba Inu has seen a 6.3% increase, according to data from CoinMarketCap. 

On the other hand, Ethereum (ETH), XRP (XRP), Cardano (ADA), and Polygon (MATIC) have experienced decreases of 0.9%, 7.5%, 6.7%, and 6.3%, respectively, during the same period. Meanwhile, Dogecoin (DOGE) and Binance Coin (BNB) have shown gains of 0.1% and 2.3% in the past week.

The canine-themed cryptocurrency, Shiba Inu, accomplished this milestone by recording five-day gains. During this period, Shiba Inu experienced a significant surge, with its value increasing by 32%.

Shiba Inu Up 0.76% In 24 Hours

Shiba Inu has also experienced a modest increase in value over the past 24 hours. 

According to CoinMarketCap data, Shiba Inu is up by 0.9% during this timeframe. While the percentage may seem small, it indicates a slight upward movement in the cryptocurrency’s price.

The 0.9% increase within 24 hours indicates the potential for SHIB to attract further attention and continue its upward trajectory. On June 17, a cryptocurrency analyst known as SHIB Knight put forth speculations regarding the next price targets for Shiba Inu (SHIB). 

These targets were identified as $0.00000725, $0.00000736, and $0.00000752. Surprisingly, SHIB managed to surpass all three of these target levels, indicating a significant upward movement in its price.

However, despite the initial success, SHIB faced ongoing pressure from bearish market conditions, causing its price to retrace to $0.00000716. 

This retracement implies that the value of SHIB declined from its peak levels, possibly due to increased selling activity or a broader market downturn.

Shibarium Beta Explorer Achieves Significant Upgrade Milestone

In a recent report disclosed by Lucie, Shiba Inu’s marketing team member, the team has successfully upgraded the block explorer of Shibarium Beta-Puppynet, Puppyscan. According to data obtained from the explorer, Puppynet has successfully connected 13.35 million wallets. 

Furthermore, Puppynet has recorded a total transaction count of 20.11 million, accompanied by a total block count of 1.35 million. However, no official information is available regarding the release date for the mainnet version of Shibarium.