Shiba Inu Crypto Up 216% in a Week (With Some Help From Musk)

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.

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