Despite the prevailing turmoil in the crypto market, one cryptocurrency has unexpectedly managed to steal the spotlight: Shiba Inu (SHIB).
According to CoinGecko data, SHIB notched up a 5.6% increase in the past 24 hours, in stark contrast to ADA's marginal decrease of 0.1% and XRP's moderate uptick of 2.5%.
Bitcoin (BTC) and Ethereum (ETH) noted minor daily advances of 0.2% and 0.3% respectively. Meanwhile, Binance Coin (BNB) and Dogecoin (DOGE) also showed promising daily increases of 0.9% and 1.4%. Despite these gains, all fell short of SHIB's daily performance.
Further comparison reveals that Solana (SOL) and Tron (TRX) posted daily gains of 0.3% and 0.2%, while Polygon (MATIC) remained steady with no change.
The sudden uptick comes after SHIB suffered one of its toughest weeks, dropping by more than 21% and becoming one of the worst-performing altcoins. As reported by U.Today, Shytoshi Kusama, the leading figure of the Shiba Inu project, took to his Telegram channel to rally the community by addressing another "FUD attack."
Dan Burgin
Vladislav Sopov
U.Today Editorial Team