WAY less distortion dude! I love a lot of gain man, but that's way way way too much! You did get pretty sloppy towards the end. The beggining was fairly clean, but overall it seemed pretty directionless. You've got speed in your fingers, but the tune needs to be in your head or else your speed will work against you. Practice SLOWLY! As JSV said. (Apparently I can shred really well and didn't know it, I just figured I was playing kind of fast).

In answer to your question, though, yes, you can shred. However, you didn't do it very accurately in that clip. But practice makes perfect, you're definitely not bad, you just need work.