Shiba Inu jumps 140% in 24 hours to a new high

Shiba Inu (SHIB), a clone of the meme cryptocurrency Dogecoin, hit an all-time high. At one point the asset reached $0.000033.

As of writing, the cryptocurrency trades at around $0.000029.

Over the past 24 hours, the coin surged 140%, and over the week by 1,550%. Shiba Inu rose to 18th place in the CoinMarketCap ranking, with a market capitalisation of $11.6 billion.

The price rise was prompted by its listing on Binance. On May 10, trading for Shiba Inu began in the exchange’s Innovation Zone. The company предупредила that the asset is subject to «higher volatility and greater risk».

Following Binance, Crypto.com announced the listing of SHIB.

https://t.co/vCNztABJoG Exchange lists $SHIB.
Trade #SHIB in #USDT pair now.

Sign up 👉 https://t.co/qE92OijleG pic.twimg.com/snVgGHMte3

— Crypto.com (@cryptocom) May 10, 2021

The payments platform also сообщила that it could add Dogecoin or its clone to the Crypto Earn service.

On May 7, Elon Musk tweeted that he is looking for a Shiba Inu puppy. After the post, SHIB’s price jumped 68%.

I’m looking for a shiba pup!

— Elon Musk (@elonmusk) May 7, 2021

Earlier, Forklog reported that hype around Dogecoin pushed up prices for some tokens of imitator projects. Among the rally’s beneficiaries were SHIBA holders.

In 2022, SpaceX will launch the Doge-1 lunar satellite. According to Musk, the mission is fully funded by meme cryptocurrency.