Perhaps I'd be going out on a limb and potentially sacrificing all male-dom when I say that a female can shred.
But only when by shred I mean elegantly but rapidly play interesting and beautiful solos and riffs while maintaining the beat and tempo of the song and after she actually learns how, via professional schooling or a (male) friend showing them exactly HOW to shred, and WHAT it should sound like. Often times people try to 'shred', and it sounds like complete horse shit. Which is no good. It needs to flow, I think.
But it can't be all elegant and beautiful. You have to have a riff in there that will cause hemorrhages of the brain and lungs, because that's how ridiculously badass and intense it is.