Shiba Inu (SHIB) has more than doubled over the past week. Gaining on big brother Dogecoin (DOGE)
According to CoinGecko the price of SHIB increased 113.2% over the past seven days. This figure rises to 311.4% when considering a 14-day perspective. SHIB had previously directly trailed its antecedent DOGE, currently the top 10 cryptocurrency in market capitalization, but has since been eclipsed by LUNA for 11th place.
SHIB’s recent rally was sparked by a trademark cryptic Tweet from Elon Musk of his Shiba Inu “Floki Frunkpuppy,” on October 3. Within hours, SHIB had jumped 40%, essentially doubling in price by October 5. From there, it proceeded to peak on October 7, achieving just over double its value again. It fell markedly on October 8, but since it is trading at roughly double its value on October 5.