While the new generation of Shiba Inu dog breed-inspired cryptos continues breaking the charts, the meme coin hype unravels as an influencer-dependent, community-driven market phenomenon.
Flokinomics, one of the newer Dogecoin (DOGE) knockoff tokens, which started trading following Musk’s recent tweet, pumped another 1,008% in the past 24 hours, according to CoinGecko’s data.
As the meme coin frenzy continues, the price of another Shiba Inu-inspired crypto, Baby Shiba Inu, pumped an additional 641.2%.
Who let the dogs out?
Branded as “Dogecoin killer,” Shiba Inu (SHIB) is not only high on the list of Dogecoin spinoff tokens rolled out solely to capitalize on the meme coin hype, but grew to become the 20th largest crypto by market cap.
SHIB saw some of its largest trading volumes this week, surpassing those of the world’s most iconic meme crypto, Dogecoin.
Alongside other deep-pocketed public personas, who showed their support for DOGE, Tesla CEO Elon Musk earned himself the
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