Despite Recent FUD Shiba Inu Outperforms NASDAQ-100

Even with Nasdaq-100’s bullish run since the start of the year, Shiba Inu has registered more than twice its percentage of gains in the same time frame.

Shiba Inu (SHIB) has outperformed the NASDAQ-100 index since the start of the year despite the persistent FUD campaign targeted at the asset. All recent FUD campaigns, like Shibariium copying other codes and Bitboy threatening to reveal Shiba Inu’s lead developer identity, were in vain as Shib keeps gaining building momentum.

Leveraging the buzz surrounding Shibarium and an uptick in bullish sentiments, the asset has appreciated over 33% from its opening price in 2023. 

The NASDAQ-100

Having begun the year with a price of $10,862, the NASDAQ-100 index has so far added $1,747 to its value in 2023, resulting in a 16.09% appreciation in its price since the start of the year. The index is changing hands for $12,610 after rising from a low of $11,830 on March 10.

The NASDAQ-100 is an index of the 100 largest non-financial companies listed on the NASDAQ stock exchange. It includes companies from various sectors, such as technology, consumer goods, healthcare, and industries. Its top companies include Microsoft, Apple, Amazon, Alphabet, and Tesla.

With a market cap of over $16 trillion, the NASDAQ-100 is one of the most widely followed stock indexes in the world, serving as a benchmark for the performance of the technology and growth sectors of the stock market.

Shiba Inu Bullish Run 

Notwithstanding, despite its renown, Shiba Inu has registered more than double the percentage of gains witnessed by the NASDAQ-100. With a current price of $0.00001084, SHIB has appreciated by 33.6% from the value of $0.000008087 it started this year. These massive gains have defied the recurrent FUD that had created a rift in the Shiba Inu camp.

The asset’s bullish run this year has been fueled by a myriad of factors, including the excitement surrounding Shibarium, an uptick in bullish sentiments, and the broader market-wide rallies that have been observed in the crypto space on a periodic basis.

Amid one of the rallies, SHIB surged to a 6-month high of $0.00001521 on Feb. 5 before facing a correction that bartered it to a low of $0.0000119 five days later. The asset staged a recovery, but a lack of support from the bulls resulted in a steep decline, ultimately leading to a price of $0.000009728 earlier this month.

Another recovery campaign has ensued as the asset looks to reclaim the local top above $0.000015. The Shibarium FUD, which served as a hindrance to this campaign, was recently resolved. SHIB has gained by 5% in the past 24 hours, currently targeting $0.000011 in the short term.