SHIBA INU is closing on Dogecoin – the meme coin it was spun off from – and Polkadot after becoming the 10th most valuable cryptocurrency in the world.
SHIB, an Ethereum-based spinoff from Dogecoin, has risen rapidly ever since an anonymous crypto whale purchased 276.6 billion of its tokens for $11.5 million on Monday evening.
In the last 24 hours it has risen a further 17% for a market capitalisation of $33.7bn, around $6bn behind Polkadot and DOGE.
More than $40bn of the token has been traded in the last 24 hours – almost as much as market leader Bitcoin, which has a market cap of $1.1 trillion.
Worth $0.00006366 at the time of writing (7am UK), it is 122% up in a week.
The rise continues despite Tesla and SpaceX entrepreneur Elon Musk – a famous backer of DOGE – confirming that he does not hold any SHIB tokens.
DOGE itself has risen 6% in the last 24 hours and 9% in a week to sit just below 28 cents.
Bitcoin (BTC), which hit a record price of $67,016 last week, is back at $59,000 after a 3% loss. It is down 9% on last Thursday morning.
Ethereum (ETH), the world’s second most valuable crypto, shed 6% to just above $4,000. The smart contract blockchain platform is 4% down over seven days.
Polkadot (DOT) dipped 9% to above $41, which leaves it 6% down over seven days.
There were also 9% losses for Cardano (ADA), which sits at $1.94 – 14% down in a week – and Ripple’s XRP, which is at $1.01, 11% down over seven days.
Solana (SOL), which hit an all-time high of $213 on Friday, is now down at $190 following a 7% dip.
The token, connected to the Solana Foundation – an open-source project designed to facilitate the creation of decentralised apps – is 4% down on last Thursday’s price.
Binance Coin (BNB) dropped 5% to $458, 8% down in a week.
The overall market cap of the more than 13,200 coins is at $2.49 trillion after a 4.2% fall in the last 24 hours.
To see how the valuations of the biggest movers and shakers – and main coins – have changed over the last few days, click here.
For valuations of the top 250 coins by market cap (updated every 15 minutes), their market cap plus 24-hour price change and volume traded, see below.
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