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SHIB Coin Surging to Record High, $8K Investment Last August Now Worth $5.7B

Reuters

Dogecoin watch out! ‘Shiba inu’ token muscles into cryptocurrency top 10

Meme-based cryptocurrency shiba inu soared more than 45% over the past 24 hours, muscling into the top-10 largest digital tokens by market capitalization. Shiba inu is a spinoff of dogecoin, itself born as a satire of a cryptocurrency frenzy in 2013, and has barely any practical use. Yet its price has rocketed around 160% this week, according to CoinMarketCap, leapfrogging dogecoin to become the No. 8 cryptocurrency, with a $42 billion capitalization.

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