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.