Shiba Inu shoots 300%

Cryptocurrency is becoming the twelfth largest cryptocurrency

The Shiba Inu is becoming the twelfth largest cryptocurrency . The token was created in August 2020, from a meme as an alternative to Dogecoin.

During this week, the virtual currency soared 300% , nothing more and nothing less due to the popularity of a tweet made by billionaire Elon Musk. The text "Floki Funkpuppy" next to a photo of the mascot of the CEO of Tesla, was the cause of the strong rise of the currency.

On October 3, the currency closed at 0.000007367 euros. The next day, the price of 0.000001163 euros. On October 5 it already reached 0.000001488 euros so that on October 6 it ended at 0.000002412 euros, causing an increase of 25% in value.

The cryptocurrencies Dogecoin and Shiba Inu Coin , are coins created on the basis of memes that have quickly become popular in recent times, increasing their cost by 54%. Their values have suddenly changed, causing a larger payback in currencies like Ether or Bitcoin.

Meanwhile, both virtual currencies have entered the international crypto industry . On the one hand, Dogecoin is now available for sale and purchase on Coinbase, a predominant cryptocurrency trading platform in the United States. On the other hand, the Shiba Inu Coin has started to be traded on Wazir X, it predominates in Asia, under the ownership of Binance.

Cryptocurrencies are undoubtedly engaging in trade rapidly, causing acceptance from users globally. There are only 4 months to go to reach 200 million crypto users. Elon Musk recently named Dogecoin as the people's cryptocurrency, while in El Salvador the use of Bitcoin as legal currency is legalized.