Meme-based cryptocurrency shiba inu soared more than 45% over the last 24 hours, muscling its way into the top ten largest digital tokens by market capitalisation.
Yet it's price has rocketed around 190% in the last seven days, according to CoinMarketCap, leapfrogging dogecoin to become the 8th most valuable cryptocurrency with a total value of $44 billion. Known as"shib" to a growing army of retail investors, Shiba inu coins are worth fraction of a cent. Its website calls it"a decentralised meme token that has evolved into a vibrant ecosystem".
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