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 weekly performance paints a similar picture. SHIB's weekly increase of 9.4% stands out against ADA's barely-there growth of 0.2% and XRP's decline of 4.2%. Other altcoins like BNB and DOGE recorded weekly gains of 4.6% and 1.8% respectively but still fell short of SHIB's stellar growth.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."