SHIBA INU, a meme coin spun off from a meme coin, is threatening to crack the top 10 cryptocurrencies.
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 32%, almost doubling its price in a week and putting its market cap at more than $21 billion. That puts it $4bn ahead of Terra (LUNA) and $11bn behind stablecoin USD Coin in 10th spot.
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 is ninth in the valuation league table, less than $2bn ahead of USDC, and down 1% in 24 hours.
It enjoyed a leap in value over the weekend attributed to tweets from Musk on what he hopes to see the meme coin achieve. Having settled back at just above 26 cents, it is 7% up over seven days.
Ethereum, the world’s second most valuable crypto, moved within $100 of its record price before a slight fall back.
An almost 2% rise in 24 hours left ETH around $4,275 at the time of writing (7am UK). The smart contract blockchain platform’s all-time high is $4,379 and it is 11% up over seven days.
Market leader Bitcoin (BTC), which hit a record price of $67,016 last week, is just below $61,000 after a 2% loss. It is down 4% on last Wednesday morning.
Polkadot (DOT) grew 3% to above $45.30, which leaves it 10% up over seven days.
A 2% loss saw Cardano (ADA) sit at $2.15, which leaves it 2% up in a week.
A more than 1% dip for Ripple’s XRP puts it at $1.11, which leaves it 1% up over seven days.
Solana (SOL) hit an all-time high of $213 on Friday before settling back to $207 on Monday. After creeping up to $208 on Tuesday, it dropped back more than 2% to $203.
The token, connected to the Solana Foundation – an open-source project designed to facilitate the creation of decentralised apps – is 31% up in a week.
Binance Coin (BNB) remained around $485, also where it was last Wednesday.
The overall market cap of the more than 13,200 coins is at $2.61 trillion after a 0.3% 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.