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Here’s how shiba inu became the world’s 12th largest crypto

Shiba Inu’s SHIB token has risen 42% in the last 24 hours thanks to Elon Musk’s new puppy

Shiba inu is a cryptocurrency inspired by memes featuring the Japanese dog breed of the same name
Shiba inu is a cryptocurrency inspired by memes featuring the Japanese dog breed of the same name Photo: Getty Images

A second cryptocurrency inspired by memes featuring the Japanese dog breed shiba inu has quickly risen up the ranks of popular digital assets, after a tweet by Tesla boss Elon Musk about his new puppy.

Shiba Inu’s SHIB token has risen 42% in the last 24 hours to a market capitalisation of $15.4bn, making it the 12th largest cryptocurrency globally, according to a ranking by CoinGecko.

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