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15.11 - 11:51
Remember dogecoin? A rival 'meme token' just hit a record high and is close to overtaking it
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cnbc.comIn this article
Shiba inu, a dogecoin spin-off, is close to surpassing Elon Musk's favorite cryptocurrency.
The digital token has surged 28% in the last 24 hours, according to data from CoinGecko, hitting a record high above $0.00005. It has more than doubled in price in the last week.
With a market capitalization of over $28 billion, shiba inu is now the 11th-largest cryptocurrency. Dogecoin is the 10th biggest, with a market cap of $31 billion.
Dogecoin was down 12% in the last 24 hours, according to CoinGecko data.
Shiba inu is a so-called «meme token» that bills itself as a «dogecoin killer.» It takes its branding from the same internet meme dogecoin is based on, using the image of a Japanese Shiba Inu dog.
The token was created in Aug.
Read more on cnbc.comAbout this in other media
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