The value of Shiba Inu coin has surged up to 367% in the past seven days after continuing to soar following Elon Musk’s tweet on his dog. The cryptocurrency rose 70% in 24 hours as of 10:55 am, Hong Kong time, becoming the 12th largest cryptocurrency, as per CoinGecko pricing. Bitcoin has also surged above $55,000.
The price of world’s largest cryptocurrency Bitcoin also surged above $55,000 for the first time since mid-May. Other cryptocurrencies like Ether also witnessed a surge. This comes a day after Bitcoin’s price surpassed the $50,000-mark for the first time in four weeks.