Shiba Inu Coin Grows Bigger Than Polkadot And USD Coin As Its Value Soars To 76%

The value of the Shiba Inu cryptocurrency, a new Ethereum-based Dogecoin ripoff, has increased by 76%, jumping from 0.00004887 USD last night to 0.00008100 USD at the time of this writing. The digital currency has witnessed a whopping 115% growth in lifetime market cap ($44,545,833,123), and grew 200% in the last 24 hours, and is even projected to reach 400%.

It is now one of the top 10 cryptocurrencies globally, taking 8th place after Polkadot and USD Coin, which are capped at 40.0 and 32.4 billion USD respectively.

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The price of the currency continued to rise before Elon Musk replied to a Tweet in which he said he did not hold the Shiba Inu. After that, the same price decreased. For starters, Elon was one of the pioneers that helped DogeCoin get to where it is today.

While the price of the Shiba Inu increased, other cryptocurrencies such as Bitcoin, Ethereum, XRP, and Polkadot saw significant declines of around 40% combined.

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An article from FXStreet mentions that “SHIB could retrace and consolidate until a massive surge in buying pressure occurs.”

What do you think about Shiba Inu coins? Have you invested in it? Let us know in the comments section below.

Keywords: shiba inu coin, bitcoin, crypto, polkadot, usd coin