Altcoin took 11th place in the list of the largest cryptocurrencies in terms of capitalization, approaching Dogecoin, which ranks 9th
The price of the Shiba Inu token has renewed its all-time high above $ 0.000048. Over the course of the day, altcoin has risen in price by 16%, and its capitalization has increased to $ 22.8 billion, according to CoinGecko.
The asset took 11th place in the list of the largest cryptocurrencies in terms of capitalization, approaching Dogecoin, which ranks 9th with a market value of $ 35 billion. Over the month, the value of Shiba Inu increased by 525%.
On October 25, Shiba Inu dropped 27% after Tesla and SpaceX CEO Elon Musk said he did not own the token. The businessman noted that out of curiosity he bought Bitcoin, Ethereum and Dogecoin.
The Shiba Inu token is called the "Dogecoin killer" by its creators. The project's website says that its main task is to surpass Elon Musk's favorite cryptocurrency in terms of capitalization. The developers of Shiba Inu claim to have been inspired by the example of the Reddit community WallStreetBets, whose members were able to "accelerate" the value of the shares of GameStop, AMC and a number of other companies.