The cryptocurrency inspired by Shiba Inu is approaching an all-time high
Dogecoin affiliate Shiba Inu has once again entered the list of the top 20 cryptocurrencies by market capitalization, according to data provided by coin tracker CoinGecko.
Currently valued at $11 billion, the cryptocurrency is far from catching up with Bitcoin Cash, the largest fork of Bitcoin.
The meme coin is up nearly 200 percent in the past three days alone, vastly outperforming the rest of the cryptocurrency market.
As reported by U.Today, Shiba Inu recently surpassed Bitcoin in terms of trading volume on Coinbase, America’s leading exchange.
It’s not clear what caused this sudden increase, but some speculate that it may have been caused by Musk’s recent posting of another picture of his Shiba Inu dog.
Dogecoin also saw a significant increase in prices due to its canine competition, which allowed it to climb to the eighth position on CoinGecko.
Earlier today, Adam Aaron, CEO of AMC, made an announcement about the addition of a Dogecoin payment option for movie chain gift card buyers.