Shiba Inu (SHIB) Up 10% While Almost All Top Coins Down In Last 24Hrs

Over the last 24 hours, the cryptocurrency market has underperformed.

The market has dropped more than 3% in the last several hours, and the overall market worth is now back below $900 billion.

Bitcoin has lost its support above $21,000 and is on the verge of falling below $20,000. Ether is also at risk of falling below $1,000 after losing more than 7% of its value in the previous 24 hours.

However, SHIB, the Shiba Inu ecosystem's native coin, has increased by more than 12% in the previous 24 hours.

Because of this continued increase, SHIB is currently the best performer among the top 20 cryptocurrencies by market cap.

There is no catalyst behind SHIB’s ongoing positive performance.

Amongst the top 100 cryptocurrencies by market cap, SHIB is the second-best performer, only behind WAVES.

SHIB's value has increased by more than 23 percent in the last seven days, outperforming some of the biggest cryptocurrencies.

At press time, SHIB is trading at $0.00000947. If the rally continues, SHIB could surge past the $0.00001084 resistance level before the end of the day.