Shiba Inu Leaves BTC, ETH, DOGE In The Dust As Shibarium Bridge Goes Live

SHIB, the native currency of the Shiba Ecosystem, left other crypto assets in the dust, as it pulled a 3% price gain over the past 24 hours after the token withdrawals from the recently reopened Shibarium bridge went live.

SHIB was trading up at $0.000008062 early Tuesday morning, with its 24-hour trading volume up by 38.99% at $124.75 million, based on the data from CoinMarketCap.

It beat Bitcoin, the world's largest crypto asset by market capitalization, which at around the same time saw a 0.30% loss and was trading in the red zone at $25,964.80, Ethereum, the second-largest crypto asset by market cap, which saw a 0.15% gain over the past 24 hours and was trading in the green zone at $1,641.92, and Dogecoin, the first-ever meme coin, which only saw a 0.42% increase and was trading up at $0.06267.

Over the weekend, the Shiba Ecosystem developer, who uses the X handle @kaaldhairya, explained the withdrawal process of various tokens on the Shibarium bridge.

"Withdrawal for Bone takes up to 7 days to process," according to Kaal, while "withdrawal for ETH/ SHIB/ LEASH takes a couple of hours in the bridge."

The Shiba Ecosystem developer also reminded the community that "if shibariumscan.io is down just the block explorer is down not the network, this is because we use an opensource version of Blockscout and don't use big servers for it and they are working on getting hosted version up soon," before adding, "Please don't listen to haters and scammers who FUD by misleading people so that they can buy low."

On Monday, Shytoshi Kusama, the pseudonymous lead developer of the Shiba Ecosystem, announced that Shibarium has been re-opened to the public, and detailed that the network has "accumulated over 65,000 wallets and 350,000 transactions" even before the official announcement of its re-opening to the public.

When asked about SHIB's recent performance, Shiba Ecosystem and Shibarium Tech marketing Specialist Lucie told International Business Times, "Shib is just getting started in showcasing its full power," adding, "We're diligently crafting opportunities for people worldwide to revel in the wonders of decentralized technology!"

As of 8:19 a.m. ET on Tuesday, SHIB was trading up at $0.000008065 with a 24-hour trading volume up by 38.99% at $124.75 million, representing a 0.45% increase in the last 24 hours and a 1.3% gain over the past seven days.

Based on the latest data from CoinMarketCap, SHIB's total circulating supply stands at 589.35 trillion SHIB, with its value up by 0.74% at a $4.75 billion market cap.