From a puppy to crypto world: Shiba Inu becomes 12th biggest cryptocurrency after 367% surge in a week
Shiba Inu, the meme cryptocurrency modelled after another meme cryptocurrency, is taking the crypto world by storm. The token rose by 367 per cent in just a week, securing the 12th largest cryptocurrency spot.
The SHIB token has run past holders like Litecoin and Avalanche’s AVAX in cryptocurrency market value, according to CoinGecko prices.
The token was created just a year ago by someone called Ryoshi. It was seen as a rival to a fellow meme coin that slowly turned serious, Dogecoin. Both tokens use the symbol of a Shiba Inu, a breed of dog native to Japan. While Dogecoin used the image of the infamous Doge meme, the SHIB token uses the image of a Shiba Inu puppy.