The price of meme coin Shiba Inu (SHIB) has soared by nearly 44% over the past 24 hours, according to data provided by CoinMarketCap.
The popular canine coin has now climbed to the 13th spot by market capitalization, surpassing Tron (TRX).
Shiba Inu is now close to catching up with Dai (DAI), a popular decentralized stablecoin that has seen a resurgence following the collapse of rival TerraUSD in early May.
Alex DovbnyaYet, the meme coin is still down 67.48% since the start of the year despite growing adoption.
As reported by U.Today, the canine cryptocurrency started trading on the Bitstamp exchange earlier this month.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Arman Shirinyan
Dan Burgin
Vladislav Sopov