No, Elon Musk’s Shiba Inu Tweet Isn’t Pumping SHIB’s Price

No, Elon Musk’s Shiba Inu Tweet Isn’t Pumping SHIB’s Price
It turns out that the crypto market hasn’t gotten sick of canine-themed meme coins just yet.Self-claimed “DOGE killer” shiba inu (SHIB) has pumped by nearly 400% in the past week, pushing the token to the No. 13 most valued cryptocurrency by market capitalization, according to data compiled by CoinGecko.The seemingly odd price pop of one random coin among thousands of others has had some crypto traders scratching their heads: Why SHIB and why now?“I would say it’s just crypto being crypto,” Ashwath Balakrishnan, an associate at crypto analytics firm Delphi Digital, said. “When markets go risk-on, the meme coins tend…