Will SHIB Hit a New High? The Token Gets Into the Top 15

by in Cryptocurrency News

Shiba Inu massive surge

This week's massive surge brought SHIB token to 15th place as the largest cryptocurrency by market cap. The indicator stands at over $13 billion at the moment.

Related: Newly Launched ShibaSwap Scores Over $1.5B TVL in 2 Days

In the last 7 days, SHIB saw an impressive surge of around 370% and currently trades at $$0.00003315. From the start of the year, the token's price surged by about 8000%. It reached the peak of $0.0000388 in May.

In June, Coinbase Pro listed the token.

The recent surge is connected with Tesla CEO Elon Musk's tweet of his Shiba Inu dog Floki. After the post, SHIB's sales have grown in value. Shiba Inu, a token inspired by Dogecoin, was launched in August 2020 on Ethereum. The token has its decentralized exchange ShibaSwap, released in 2021.

The price of Dogecoin also increased. Over the last 7 days, DOGE went up by 22.6% and trades at over $0.24 at the moment. It ranks 10th in terms of market cap.