Highlights
- Shiba Inu cryptocurrency has experienced a surge in the market over the last seven days
- The surge came after Elon Musk posted the image of his pet dog
- Elon Musk’s puppy is named Floki.
Cryptocurrency is one of the most popular forms of digital currency used in the contemporary world. Different types of cryptocurrencies can be used in the market as per the availability. Shiba Inu is a cryptocurrency that has gained a huge amount of popularity over the last few days. The currency had already started to come into the scene after Elon Musk tweeted about his little puppy for his fans.
Increase In The Value Of Shiba Inu Cryptocurrency
The Shiba Inu token has received a rise of about 70% over the last 24 hours. It has been able to surpass the popularity of Litecoin and Avalanche’s AVAX. As of now, it is the twelfth largest cryptocurrency network in the market according to the pricing system.
The market value of this cryptocurrency is also quite high. The rise in the price of this specific cryptocurrency had happened after Elon Musk had tweeted an image of his pet puppy, Floki. Shiba Inu uses the meme of Japanese hunting dogs. The sharing of memes of this dog increased by 367% over the last seven days, after Musk had made his post.
Posts By Elon Musk
This particular rise has appeared at a time when there is enough surge in the other cryptocurrencies as well. Bitcoin has experienced a surge of about 30% while the others are also experiencing a great rise in their values. The value of the Shiba Inu token will continue to experience a surge over the next few days. This is bound to bring some changes in the state of the world economy as well.
It had initially been developed as a joke by an anonymous developer. The person had described Shiba Inu as a medium for meme enthusiasts in the cryptocurrency world. This has flourished over time and reached huge popularity among users.
Also read – The Best Time To Sell Bitcoins? NOW!
What Is Your Opinion?
What do you think about this sudden rise in the value of Shiba Inu tokens in the market? Do you think that this will bring a damper on the values of other cryptocurrencies? Let us know your opinions.
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