The ‘shiba inu’ digital token can exceed the market value of the cryptocurrency ‘hot’ of billionaire Elon Musk , the ‘dogecoin’.
In the last 24 hours, the cryptocurrency has accumulated a high of about 60%, and has already doubled in price since the last week. The face value seems ridiculous: 0.00007839 dollars.
But the important thing here is capitalization, and the shiba inu has already reached around 31 and a half billion dollars, and is ranked 11th as the largest cryptocurrency in the market. Dogecoin, which has fallen 10% in the last 24 hours, is ranked 10th on that list.
Based on the blockchain ethereum, the digital currency was created in August 2020. The asset is based on the image of a Japanese dog of the Shiba Inu breed.
It mainly attracts novice investors, who often seek out little-known cryptocurrencies in hopes of making future gains .
But it’s important to remember that cryptocurrencies are known for their volatility. Bitcoin, for example, which recently hit a record, has already dropped to less than $60,000 on Wednesday.