The Shiba Inu cryptocurrency is now the world’s 20th-biggest by market value and has more than tripled in the past week, partly fueled by Elon Musk’s latest tweet about his own puppy.
The SHIB token, centered around a breed of Japanese hunting dogs, is up another 69% in the past 24 hours, according to CoinGecko pricing, putting its market value above $10 billion.
The gains have come amid a broad rally in major digital currencies, underpinned by favorable seasonal factors, positive technical chart signals and a lack of interference from the Federal Reserve. But SHIB’s 216% surge in the past week has well overshadowed the performance of Bitcoin and Ether, the two biggest tokens, which are both up more than 20% in this period.
To know more about this news, check out: https://www.bloomberg.com/news/articles/2021-10-06/shiba-inu-crypto-up-216-in-a-week-with-some-help-from-musk